Your first Defence Service Homes loan

Please note that the Defence Service Homes Lending scheme has been superseded by the Defence Home Ownership Assistance Scheme. Unless you served in the defence forces prior to 15 May 1985 (or in Namibia) this information may not be relevant to you. More information is available on the Defence Home Ownership Assistance Scheme website.

The maximum amount of a Defence Service Homes loan is $25 000, but the actual amount you can obtain from Westpac depends on various factors including:

  • the value of the home;
  • the amount of your deposit;
  • your ability to meet your repayments and your other commitments; and
  • the level of security offered.

If you want to borrow more than $25 000, you can apply for a loan through Westpac, on the same terms and conditions as other Westpac loan applicants, but without the need for separate mortgage documentation. Information on the amount you can borrow, the monthly repayments and application fees is available from Westpac.

Alternatively, you could borrow the extra amount from a lender of your choice and take out a second mortgage.

Two or more eligible applicants can pool their entitlements on the same property. Similarly, a person who has completed eligible service and who is also a widow or widower of an eligible person can pool entitlements. Separate applications must be made for each entitlement.

IMPORTANT: If your loan application is approved by Westpac, the Bank will normally secure the loan by way of a FIRST mortgage over the property. This is a requirement of the DSH Act.

If you are not or will not be the registered proprietor of the property (for example, a retirement village unit or granny flat) please note information about also applying for a Certificate of Assignment in addition to a Certificate of Entitlement.

View the Assignment information page.

For more information:

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