Looking for any opinions from people with experience using State Custodians. Also are there any pitfalls with my proposed strategy or alternative products that might be a better fit? In the next 2-4 years we will have outgrown our current PPOR and will need to upgrade. At this stage we do not know which of the following options we will pursue: A) Transition current PPOR to IP and rent a larger place. B) Buy larger place and transition PPOR to IP. C) Sell existing PPOR and buy larger place. Each of the above obviously has pros, cons and different risk profiles. For the next few years I would like to keep our options open and maximize our flexibility. Which is why I have been thinking of refinancing with State Custodians IO loan with offset. We are pretty disciplined savers so the strategy will be to build up the offset using the additional cash flow from not paying any principal off. The 3.65 IO rate for Owner Occ with offset seems great. Or am I missing something?