MyState Bank


Latest News

November 26 2020

We’ve made refinancing simpler and easier


October 16 2020

Effective, Friday 16 October, the following reduced promotional pricing will apply:

Special Residential Home Loan

  • Owner Occupied (OO)
  • 2.79% (currently 3.08%)
  • For P&I repayments where the LVR is less than 80%
  • 2.69% (a new tier, currently 3.08%)
  • For P&I repayments where the LVR is less than or equal to 60%
  • The $300 Establishment Fee has been waived


Special Residential Home Loan - Investment (INV)

  • 2.99% (currently 3.28%)
  • For P&I repayments where the LVR is less than 80%
  • The $300 Establishment Fee has been waived

August 26 2020

We’re offering a Refi Cashback and have reduced Basic Variable rates

Here’s a reminder of our current promotions that can help you deliver good news to your customers.

Customers receive $2000 to Refinance

Our cashback offer of $2000 is available now for customers that are refinancing. It can be to refinance either an Owner Occupier or Investment loan and is for applications over $250,000 with an LVR <80%.

To make sure your customers receive their $2000 cashback, follow these steps: 

1.Include ‘Cashback Offer’ in your loan submission notes

2.Open a MyState Bank savings or transaction account for the funds to be deposited, by completing the details in the ‘Banking with MyState’ section of our application form. Customers must have a MyState account prior to loan settlement to receive the funds.

Customers will receive the $2000 payment into their MyState Bank account within 2 weeks following settlement.

NB Loans to settle within 90 days of the letter of offer.

Owner Occupied Variable rates from 2.69%  

For Owner Occupied loans where payments are Principle and Interest, we have reduced our Basic Variable interest rates for the following LVRs:

 <= 60%  2.69%
 <80%  2.79%

These rates can be combined with the Cashback offer for eligible customers. 

Our updated Rate Sheet is on our Broker Portal.

https://campaign-image.com/zohocampaigns/295410000017817001_1598419077738_icons_sla.jpgWe are currently at 10 days for a fully complete loan application. 

You can help to get your application into the queue for assessment by providing all of the mandatory items and supporting documents outlined in our Submission Checklist. 

Please contact your Broker Relationship Manager for any assistance.


August 25 2020

FHLD Scheme new applications not accepted after 21 August 

MyState Bank will no longer be accepting new applications for First Home Loan Deposit Scheme (FHLDS) Loans until further notice. 

Our participation in the scheme has resulted in very strong support, and we thank you and appreciate your support. 

Applications in progress – scheme place not reserved 

For a FHLDS application to be considered for assessment prior to this deadline, the fully completed loan application, including all supporting documents must be received prior to 5pm Friday 21 August. 

If we do not have the mandatory information as per the FHLDS checklist to book a scheme place, we will not be offering a scheme place through MyState Bank. 

Applications in progress – scheme place reserved 

For applications in the pipeline received prior to 1 July 2020 which are already pre-approved for the scheme, borrowers must have signed a purchase contract and received unconditional approval on, or before 30 September to secure their reservation. We will continue to process these applications and contact you if updated NOAs are required. 

For any applications in the pipeline which expire after the 30 September 2020, we will not be able to secure a scheme guarantee. 

Please contact your Broker Relationship Manager to clarify any questions relating to this update.



MyState Bank joins the Loan Market lender panel!

Who are MyState?

MyState is an all Australian based operation headquartered in Tasmania with teams located in Tasmania, Victoria, NSW and Queensland. They are an ASX Top 300 Listed Company (MYS), operating for more than 50 years offering exceptional expertise in transaction facilities, savings accounts and lending products.

Message from MyState

MyState has built a strong reputation across Australia with mortgage brokers. Our responsiveness with decision making, personalised service and ‘find a way’ attitude is the basis of our partnership with brokers. Our experienced Broker Relationship Managers all have lending backgrounds and know what it takes to get the deal done. They add true value, with knowledge that helps create more loan opportunities for brokers.

We offer a competitive range of basic and featured products for a variety of loan purposes. The Home loan products combined with leading digital innovations including mobile payment solutions (Apple, Google, Garmin, Fitbit and Samsung Pay), real time payments (NPP) and PayID provide a total package that customers Australia wide love.

We are big when it comes to innovation and technology, but have ‘small lender’ values when it comes to personal service and flexibility.

Over the coming weeks, we look forward to introducing you to our lending policies, products, portal resources and most importantly, our team, who will be your contact points.

Our Broker Portal is open to you to learn more about our products and resources.

https://brokers.mystate.com.au/

How to get started with MyState

Accreditation: To get started with the accreditation the process please complete the online broker accreditation form and email the form through to accreditations@loanmarket.com.au 

Brokers will be onboarded with MyState in stages. This will ensure your accreditation request is placed in one of the releases.