Does MyState really lend to investors at 95% LVR?

Yes — MyState's investor variable lending extends to 95% LVR with mortgage insurance, at the same headline rate as the 60-80% LVR investor product. This is genuinely unusual on the broker-channel panel: most lenders step the investor rate up at the 80%, 85%, 90% and 95% LVR brackets. MyState's curve is structurally flat across the band.

Is MyState Bank only for Tasmanian residents?

No. MyState is headquartered in Hobart but lends Australia-wide through the broker channel. The Tasmania headquartering matters for branch coverage (concentrated in TAS) but has no bearing on the home loan product — which is national.

What is MyState's maximum loan size?

MyState's maximum loan size on residential lending is materially below the Big 4. For loans above $2-2.5M the broker channel routes elsewhere — Macquarie, ING or a Big 4. MyState lands cleanly in the $400k-$1.5M loan-size band, particularly when combined with the flat-LVR-rate advantage at the upper end of the LVR band.

How does MyState compare to Heritage Bank?

Both customer-owned (mutual) banks with similar overall pricing. The difference: Heritage's strength is the structural mutual NIM gap on standard PAYG owner-occupier files at 60-80% LVR. MyState's strength is the flat-rate LVR curve from 60% to 95% LVR — relevant for investor portfolios with mixed-LVR properties and for high-LVR borrowers (FHB at 90-95% LVR).

Tasmania-HQ · customer-owned · est. 1845

MyState's variable rate is the same at 60% LVR as it is at 95% LVR.

Item: MyState Bank
Rating: 4.0
Author: Richard Esteb

That isn't a marketing line. It's a pricing structure choice MyState makes — and every other major panel lender doesn't. The visualisation below shows the LVR ladder against the Big 4's typical stepped curve. What that flatness is structurally worth on a real borrower shape is the rest of this page.

May 2026 · MyState Bank Limited · ABN 89 067 729 195 · AFSL 240896 · APRA-regulated, FCS-protected · ASX: MYS

The structural USP · visualised

Same rate at every LVR bracket — flat curve against the Big 4 staircase.

Mainstream lenders step their headline variable rate upward at each LVR bracket — typically a small bump at 80%, a bigger one at 85%, and meaningful jumps at 90% and 95% LVR. The reason: LMI risk, capital weighting, and lender-margin recovery on higher-LVR books. MyState charges the same headline rate from 60% to 95% LVR on owner-occupier and investor variable products. The LMI premium still applies above 80% LVR — but the lender's own rate doesn't move.

Variable rate by LVR bracket (owner-occupier, $600k loan)

May 2026 · indicative broker-channel pricing

60% LVR

MyState

5.89%

5.94% Big 4

70% LVR

MyState

5.89%

5.94%

80% LVR

MyState

5.89%

5.99%

90% LVR

MyState

5.89%

6.24%

95% LVR

MyState

5.89%

6.54%

MyState (flat across the band) Big 4 typical (stepped up at LVR brackets)

At 95% LVR — the FHB and the high-LVR investor zone — MyState's 0.65% structural gap vs Big 4 typical is the largest. On a $600k loan that's $3,900/year of interest avoided, before the LMI premium (which both lenders charge).

Signature insight · portfolio LVR-cliff risk

The flat curve eliminates LVR-cliff risk on a mixed-LVR investor portfolio.

Step-priced lenders create a structural risk for investors holding multiple properties at different LVRs: one property re-valuing down can push the whole portfolio into a more expensive LVR bracket on a refinance or re-pricing event. A house at 89% LVR that drops to 91% LVR on a soft re-valuation triggers a meaningful rate jump — and that jump is applied to the entire loan, not just the slice above the bracket boundary.

The math on a real 4-property portfolio, $2.4M total lending, in a soft re-valuation event:

Big 4 step-priced (one property re-vals 88% → 91%):
  Portfolio weighted rate moves                +0.30%
  Annual cost increase on $2.4M                +$7,200/year
  Compounded over 5 years                      $36,000 of additional interest

MyState flat curve (same re-val event):
  Portfolio weighted rate moves                +0.00%
  LMI top-up may apply on the moved property — but the
  lender's rate on the portfolio is unchanged.

This isn't a hypothetical. Portfolio investors who refinanced through 2022-23 in a softening Sydney/Melbourne market saw exactly this play out at the Big 4 — files with 3-5 properties bumped across LVR brackets on softer valuations and were re-priced upward on the whole portfolio. MyState's flat curve is the structural insulation against that risk.

Where MyState genuinely lands

High-LVR FHB at 90-95% LVR. The structural rate gap is largest at the top of the LVR band. Combined with FHB-friendly LMI calculation, this is the most clean MyState fit.
Multi-property investor portfolio at mixed LVRs. Flat curve eliminates LVR-cliff risk on the portfolio (signature insight above). Particularly valuable through any soft-valuation market window.
Investment loan at 90-95% LVR. Genuinely rare — most lenders cap investor at 80-90% LVR. MyState writes 95% LVR investor with LMI on the same flat-rate curve.
Tasmania-aligned borrower who values local-bank relationship. MyState's TAS branch coverage is unmatched on the panel.
Self-employed with shorter trading history (1.5-2 years). MyState's underwriting tolerates shorter SE history than Big 4 on otherwise-strong files — not as flexible as ING but more flexible than the majors.

What you trade for the flat curve

Maximum loan size cap. MyState's residential lending caps below the Big 4 — files above $2-2.5M typically route elsewhere. The flat curve is irrelevant if the loan won't fit.
Mainland branch coverage thin. Headquartered Hobart; mainland branch presence is limited. Banking is online + broker channel for most non-TAS borrowers — fine for the digital banker, less ideal for the in-branch type.
Complex security types more conservative. Off-the-plan, semi-rural, and unusual property types underwrite tighter at MyState than at La Trobe or Pepper. Vanilla residential security only.
No SMSF lending, no specialist credit-impaired tier. Wrong door for those files — AMP Bank for SMSF, Pepper Money for credit rehab.

Want MyState's number on a high-LVR file?

The borrowing-capacity calculator runs your shape against every active lender — MyState included, with the flat-LVR-curve pricing applied. The gap vs Big 4 typical is in the output. No email gate before you see the number.

Run the calculator

Written by Richard Esteb · ASIC Credit Rep #574071 · Esteb & Co (CR #574070) · authorised under AFG (ACL #389087). General information only — MyState Bank pricing and policy as published, accurate at time of writing. Indicative comparisons against Big 4 typical broker-channel pricing as of May 2026. Confirm at file time.