Home Support 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Please note that the Defence Service Homes Lending scheme has been superseded by the Defence Home Ownership Assistance Scheme.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 Home Support Loan assists eligible veterans, widows and widowers with the cost of maintenance and modifications to their own homes, and other housing-related purposes that encourage independent living.

  • You must be eligible either under the Defence Service Homes Act 1918 (DSH Act), or for a benefit under the Veterans' Entitlements Act 1986 as a result of service with the Australian armed forces or a Peacekeeping Force. The widow or widower of an eligible person may also qualify. (Note — eligible veterans, widows and widowers who have current DSH loans where the balance is more than $10,000 are not eligible for Home Support Loans).
  • The maximum loan is $10,000 (minimum drawing of $1000) at a capped interest rate of 6.85 per cent per annum and at 1.5 per cent below the market benchmark rate while the benchmark rate is below 8.35 per cent per annum. The maximum term is 25 years.
  • The Home Support Loan is not portable from one home to another.
  • If your HSL 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 currently have a mortgage on your home, you will need to ensure that your existing mortgagee will allow Westpac to hold first mortgage security.

Note: If you have an unused Defence Service Homes (DSH) loan entitlement of $10,000 or more, you have to use that entitlement instead of a Home Support Loan. DSH will determine the amount of assistance available and advise accordingly.

For more information: