State Custodians Mortgage Company Standard Fixed Loan (1 Year)
Posted September 7th, 2010
and last modified February 23rd, 2012.jpg)
What happens when I click Enquire Now?
- Clicking Enquire Now will take you to the lender's website
- After completing the contact form, a mortgage expert will contact you
- The mortgage expert will ensure you find the right loan, calculate your repayments, and explains all the associated fees
- After going through the enquiry process you will be able to know how much you can borrow, begin your application when you are ready to apply and be approved for a home loan
A State Custodians Mortgage Company, fixed home loan, can be taken out from one to five years. The length of term that you choose will depend on your own personal circumstance and needs but there is no difference between them except for the interest rate and term of the fixed period.
The cheaper interest rate is of course the one year fixed term loan and this period may well be sufficient for you to become established and familiar with your home buying situation before switching over to the industry leading State Custodians Mortgage Company (SCMC) variable interest rate mortgage.
A State Custodians Mortgage Company, fixed home loan benefits, along with all the other home loans on offer by SCMC, from the company’s innovative and money saving policy of dealing with customers direct and by applying the following principles:
- State Custodians Mortgage Company won’t accept business from mortgage brokers.
- SCMC won’t accept business from companies or agents who want commissions paid in return.
- All SCMC team members are salaried professionals completely free of an conflict of interest.
These principles work to keep interest rates low while at the same time you rest confidently in the knowledge that your home loan is being administered by people who care.
State Custodians Mortgage Company, fixed home loan (1 year), can be accessed by owner occupiers and property investors, be you a first home buyer or not and you can arrange your weekly, fortnightly or monthly repayments to pay both the principal and interest, or if preferred, the interest component of the loan only. Top ups are allowed but conditions and fees apply. Pre-approval can be arranged when necessary.
The minimum amount you can borrow from a SCMC fixed home loan is $150,000 and the maximum $1,000,000 but you can borrow a higher amount if exceptional circumstances warrant it. The amount you can actually borrow is restricted to 95% of Loan to Valuation Ratio (LVR) if you are purchasing the home as well as for refinancing purposes. On both occasions you will also be required to take out Loan Mortgage Insurance (LMI). The maximum LVR allowed for refinancing for debt consolidation purposes is 90 percent and once again you will have to take out LMI. Capitalization of LMI repayments can be accommodated and the maximum term of the loan, on all occasions, is 30 years.
Up to four splits are allowed on a State Custodians Mortgage Company, fixed home loan over one year and a free redraw facility is available other than on any fixed portion of the loan. Free salary crediting is treated much the same, you can arrange to have your salary credited to your variable interest portion of your loan but not for the fixed period. (The split variable interest portion is repaid at the SCMC Breathe Easy Offset variable interest rate). There is also a 100 percent offset transaction account linkage accommodated by your loan but this is not applicable for any fixed portion either. Both the free unlimited access phone loan account and the free unlimited access online loan account are available when the loan is operating as a fixed interest rate home loan, the same as when it is a variable interest rate home loan. All have ATM, EFTPOS and BPAY facilities built in.
State Custodians Mortgage Company fixed home loan fees and charges.
Fees you will not get with a SCMC fixed home loan are the following:
- $0 application fee.
- No settlement fee deducted from the loan.
- No offset management fee.
- No pre-approval fee.
Fees that are applicable under certain circumstances:
- Lenders Mortgage Insurance processing fee of $499 (only for loans requiring mortgage insurance)
- $345 annual fee.
- Discharge fee – $350.
- Cancellation of settlement, fee – $390. (This fee is only payable if the cancellation is made by anybody other than an employee of SCMC).
- No exit fee.
A State Custodians Mortgage Company, fixed home loan ( 1 year), is designed to give you peace of mind knowing interest rates will not rise for the first 12 months. This will allow you to settle into your loan with financial certainty.
To find out more about this competitive fixed rate loan, you can follow this secure link through to the official State Custodians Mortgage Company website where you will also be able to make a secure online application.
| Minimum Loan Amount | $150,000 | |
|---|---|---|
| Maximum Loan Amount | $1,000,000 | |
| Maximum LVR | 95% | |
| Maximum Insured LVR | 95% | |
| Mortgage Offset Account | No | |
| Loan Redraw Facility | No | |
| Split Loan Facility | No | |
| Fixed Interest Option | No |
| Interest Rate Type | Fixed | |
|---|---|---|
| Interest Rate | 5.72% | |
| Comparison Rate | 6.34% | |
| Repayment Type | Interest Only | |
| Repayment Frequency | Weekly | |
| Extra Repayments | No |
| Application Fee | $0 | |
|---|---|---|
| Legal Fee | $385 | |
| Valuation Fee | $275 | |
| Service Fee | $345 | |
| Settlement Fee | $390 | |
| Exit Fee | $0 |
Top Home Loans
| Home Loan | Details | Interest Rate (p.a.) | Comp Rate^ (p.a.) | App Fee / Ongoing Fee | Max LVR | Min & Max Borrowing | |
|---|---|---|---|---|---|---|---|
 Loans.com.au - Dream Catcher | A home loan offer with a $0 application fee and one of the lowest available home loan interest rates. | 5.85% | 6.21% | $0 / $375 | 80% | $50,000 / $750,000 |
 
|
 Bankwest Online Home Loan | A low interest rate home loan with a $0 application fee and ongoing maintenance fees. This offer is exclusively available by applying online. | 5.97% | 5.97% | $0 / $0 | 80% | $100,000 / $1,000,000 |
|
 State Custodians Mortgage Company Standard Variable Offset Loan | Awarded Mortgage of the Year 2012 – this multi-award winner features 100% offset and a loyalty 0.25% rate drop after 5 years. | 6.02% | 6.23% | $0 / $345 | 95% | $150,000 / $1,000,000 |
|
 Illawarra Home Loans Bank Beater Home Loan | A low variable rate, beaten down even further by 0.05% p.a. after 5 years. | 6.07% | 6.35% | $0 / $345 | 90% | $250,000 / $1,000,000 |
|
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