Defence Bank home loan reviews

Defence Bank
Defence Bank's overall rating for home loans

(as rated by the Mozo community)

7.5 / 10

based on 6 reviews

Price

Features

Customer service

Convenience

Trust

Featured home loan from Defence Bank

Recent Defence Bank home loan reviews

Defence Bank

Defence Bank Essentials Home Loan (Owner Occupier) (Fixed) home loan review

Overall rating   10 / 10

Supportive

This bank is small, although it has connections with the NAB. Although its interest rates may be higher than some other competitors, the support you receive from staff cannot be found at any other bank.

Full review

This bank is small, although it has connections with the NAB. Although its interest rates may be higher than some other competitors, the support you receive from staff cannot be found at any other bank.

    Price   6 / 10

    Features   7 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Geralyn (ACT), reviewed over 2 years ago

Defence Bank

Defence Bank home loan review

Overall rating   5 / 10

Good customer service

Too many fees, and not competitive compared to other lenders.

Full review

Too many fees, and not competitive compared to other lenders.

    Price   6 / 10

    Features   4 / 10

    Customer service   7 / 10

    Convenience   9 / 10

    Trust   7 / 10

Less

Hris (NSW), reviewed almost 3 years ago

Defence Bank

Defence Bank home loan review

Overall rating   4 / 10

Incompetent and slow

Still in the process of applying for a DHOAS home loan. They have taken months and still no decision has been made. Only after threatening to drop the application and go to another bank has any progress been made but they are still missing...

Full review

Still in the process of applying for a DHOAS home loan. They have taken months and still no decision has been made. Only after threatening to drop the application and go to another bank has any progress been made but they are still missing their own deadlines they give me. They are useless with non-standard loans. Purchasing off a related party for less than market value with multiple sources of income, forget it. Next time, use a competent bank.

    Price   8 / 10

    Features   8 / 10

    Customer service   2 / 10

    Convenience   2 / 10

    Trust   2 / 10

Less

Brian (VIC), reviewed about 3 years ago

Defence Bank

Defence Bank home loan review

Overall rating   7 / 10

Good location, customer service is great

It is conveniently located close to work and home, lots of branches.

Full review

It is conveniently located close to work and home, lots of branches.

    Price   4 / 10

    Features   6 / 10

    Customer service   7 / 10

    Convenience   9 / 10

    Trust   8 / 10

Less

James (QLD), reviewed about 4 years ago

Defence Bank

Defence Bank home loan review

Overall rating   9 / 10

Awesome service

My husband has been a customer for a long time and has found the customer service and the product solutions to be excellent. Pro - customer service, flexibility, understands the customers needs, proactive in approach Con - have to be related...

Full review

My husband has been a customer for a long time and has found the customer service and the product solutions to be excellent. Pro - customer service, flexibility, understands the customers needs, proactive in approach Con - have to be related somehow to defence.

    Price   9 / 10

    Features   6 / 10

    Customer service   9 / 10

    Convenience   9 / 10

    Trust   9 / 10

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Mozo reviewer (ACT), reviewed over 4 years ago

Defence Bank

Defence Bank home loan review

Overall rating   8 / 10

Good home loans, expensive day-to-day banking fees

In their transition from Credit Union to Bank they introduced a number of fees of which I was not aware, resulting in us taking our day-to-day banking elsewhere. However, I am very happy with their homeloan service.

Full review

In their transition from Credit Union to Bank they introduced a number of fees of which I was not aware, resulting in us taking our day-to-day banking elsewhere. However, I am very happy with their homeloan service.

    Price   7 / 10

    Features   8 / 10

    Customer service   7 / 10

    Convenience   5 / 10

    Trust   8 / 10

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Mozo reviewer (QLD), reviewed over 4 years ago

Defence Bank

Defence Bank home loan review

Overall rating   10 / 10

Fantastic rates with no ongoing fees or "packages"

Defence Bank have the absolute best defence home loans (DHOAS loans). No ongoing fees, free offset account and options to fixed or variable loans. I have had the best experience with the home loan consultant in WA with everything handled...

Full review

Defence Bank have the absolute best defence home loans (DHOAS loans). No ongoing fees, free offset account and options to fixed or variable loans. I have had the best experience with the home loan consultant in WA with everything handled professionally with no issues. Loved the service and the interest rate was competitive and they even negotiated a special rate for me. What big four would do all this. Take my advice, go to Defence Bank for your home loan!

    Price   10 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Mozo reviewer (WA), reviewed over 4 years ago

Defence Bank

Defence Bank home loan review

Overall rating   10 / 10

Excellent service and a good deal

Helpful friendly staff who maintain a high level of service after finalising a housing loan, unlike some other lenders who seem to forget you once the deal is finalised.

Full review

Helpful friendly staff who maintain a high level of service after finalising a housing loan, unlike some other lenders who seem to forget you once the deal is finalised.

    Price   9 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   8 / 10

    Trust   10 / 10

Less

Richard (QLD), reviewed almost 5 years ago

Defence Bank

Defence Bank home loan review

Overall rating   0 / 10

Appalling ethics

I joined Defence Bank virtually the day I joined defence. I invested a considerable sum through them into Santander and used their credit card facilities as well as insurance services. I became unwell as a result defence injuries and am currently...

Full review

I joined Defence Bank virtually the day I joined defence. I invested a considerable sum through them into Santander and used their credit card facilities as well as insurance services. I became unwell as a result defence injuries and am currently under the care of the DVA after my medical discharge. I applied for a mortgage and used my DVA pension as my income. The amount of income including my wife's income was more than adequate to service the mortgage but Defence Bank refused my loan because of the source of income. This income is probably more secure than the persons' income that rejected the loan and despite several conversations with them, they would not budge. It seems that they use their priviledged position on bases to draw you in but for god's sake. Do not get ill - they will flick you off like a bug on your uniform. Defence Bank asked me to please not slag the bank off but I feel outraged at the bank and was surprised that the manager would ask this considering the treatment I have received. Thank God for Commonwealth Bank who chose to research the nature of my income and the conditions attached to it before they decided to grant me my mortgage. It took about a week longer but they asked all the questions and asked for all the proof (which I provided) before they made an informed decision. It's not the first that I have heard about Defence Bank turn their backs on ex-members who are having a bit of a hard time so SHAME ON YOU DEFENCE BANK! I WOULD NOT USE YOU AGAIN IF MY LIFE DEPENDED ON IT!

    Price   -1 / 10

    Features   -1 / 10

    Customer service   -1 / 10

    Convenience   -1 / 10

    Trust   0 / 10

Less

Duncan (QLD), reviewed almost 5 years ago

Defence Bank

Defence Bank home loan review

Overall rating   9 / 10

Terrific customer service with products that help.

I have been with Defence Bank since 1982. I have had several home loans which seemed to be tailor made for our family. The staff have consistently been helpful, quick with a smile and able to meet all of our requests. I strongly doubt the...

Full review

I have been with Defence Bank since 1982. I have had several home loans which seemed to be tailor made for our family. The staff have consistently been helpful, quick with a smile and able to meet all of our requests. I strongly doubt the larger banks could be this personable, helpful and quick to advise us of features which assist us in our quest to keep our heads above the water. I have invested all of our funds with Defence bank and feel very secure.

    Price   8 / 10

    Features   9 / 10

    Customer service   10 / 10

    Convenience   8 / 10

    Trust   10 / 10

Less

Brian (QLD), reviewed almost 5 years ago

Defence Bank

Defence Bank home loan review

Overall rating   10 / 10

Great service and staff

Great rates, fantastic service, absolutely fantastic staff.

Full review

Great rates, fantastic service, absolutely fantastic staff.

    Price   8 / 10

    Features   8 / 10

    Customer service   10 / 10

    Convenience   9 / 10

    Trust   10 / 10

Less

Robynn (VIC), reviewed about 5 years ago

Defence Bank

Defence Bank home loan review

Overall rating   10 / 10

I would recommend DEFCREDIT to everyone

When my husband walked out on the kids and me, the staff at DEFCREDIT have been absolutely wonderful and so helpful. They were fantastic in helping me refinance and doing most of the paperwork to help me. I would recommend DEFCREDIT to everyone,...

Full review

When my husband walked out on the kids and me, the staff at DEFCREDIT have been absolutely wonderful and so helpful. They were fantastic in helping me refinance and doing most of the paperwork to help me. I would recommend DEFCREDIT to everyone, the staff are always kind and helpful. Thanks DEFCREDIT.

    Price   9 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   9 / 10

    Trust   10 / 10

Less

Robynn (VIC), reviewed over 5 years ago

Defence Bank

Defence Bank home loan review

Overall rating   4 / 10

Useless for non-standard loans

With over a million dollars of housing loans for our properties, we thought Defcredit would give us a discount on their rates. But were told abruptly "no way." They are useless for your non-standard loans, as I wanted to borrow $50K to help my...

Full review

With over a million dollars of housing loans for our properties, we thought Defcredit would give us a discount on their rates. But were told abruptly "no way." They are useless for your non-standard loans, as I wanted to borrow $50K to help my mum buy a house, they would not let me use one of our other loans as security, so I had to loan it at 13% as a personal loan. As soon as my husbands is out of his probation period at work it will be bye bye Defcredit.

    Price   5 / 10

    Features   1 / 10

    Customer service   10 / 10

    Convenience   3 / 10

    Trust   5 / 10

Less

Unhappy customer (QLD), reviewed over 5 years ago

Defence Bank

Defence Bank home loan review

Overall rating   8 / 10

Great for ADF members with access to the DHOAS subsidy - makes for a very competitive loan.

Full review

Great for ADF members with access to the DHOAS subsidy - makes for a very competitive loan.

    Price   8 / 10

    Features   8 / 10

    Customer service   9 / 10

    Convenience   8 / 10

    Trust   9 / 10

Less

Mike (ACT), reviewed about 7 years ago

Defence Bank

Defence Bank home loan review

Overall rating   9 / 10

Great financial institution for serving and ex-military members of the community.

Full review

Great financial institution for serving and ex-military members of the community.

    Price   9 / 10

    Features   9 / 10

    Customer service   9 / 10

    Convenience   5 / 10

    Trust   10 / 10

Less

Mozo reviewer (VIC), reviewed over 7 years ago

Defence Bank

Defence Bank home loan review

Overall rating   9 / 10

Meets our needs, is fairly convenient when we're at home, friendly staff.

Full review

Meets our needs, is fairly convenient when we're at home, friendly staff.

    Price   8 / 10

    Features   8 / 10

    Customer service   10 / 10

    Convenience   8 / 10

    Trust   9 / 10

Less

Mozo reviewer (ACT), reviewed over 7 years ago

Defence Bank

Defence Bank home loan review

Overall rating   10 / 10

Convenient, Quick approval, competitive against the big 4, Branches at most Defence bases and all have ample access to answer any inquiry regarding all facets of finance, well trained staff.

Full review

Convenient, Quick approval, competitive against the big 4, Branches at most Defence bases and all have ample access to answer any inquiry regarding all facets of finance, well trained staff.

    Price   9 / 10

    Features   7 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Barry (QLD), reviewed over 7 years ago

Defence Bank

Defence Bank home loan review

Overall rating   10 / 10

I swapped over from Westpac to Defcredit and saved $136.00 on my mortgage each month, not to mention the lack of fees charged. can not recommend them enough.

Full review

I swapped over from Westpac to Defcredit and saved $136.00 on my mortgage each month, not to mention the lack of fees charged. can not recommend them enough.

    Price   10 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Alan (QLD), reviewed over 7 years ago

Defence Bank

Defence Bank home loan review

Overall rating   0 / 10

Very bad customer service. They took way too long to make a decision, then came in with an extra $10,000 in fees from what was quoted at initial inquiry. I know at least 4 people who have moved their mortgages due to this problem.

Full review

Very bad customer service. They took way too long to make a decision, then came in with an extra $10,000 in fees from what was quoted at initial inquiry. I know at least 4 people who have moved their mortgages due to this problem.

    Price   1 / 10

    Features   1 / 10

    Customer service   0 / 10

    Convenience   1 / 10

    Trust   0 / 10

Less

James (VIC), reviewed almost 8 years ago

Defence Bank

Defence Bank home loan review

Overall rating   8 / 10

Good bank. Convenient, due to location on base.

Full review

Good bank. Convenient, due to location on base.

    Price   7 / 10

    Features   7 / 10

    Customer service   8 / 10

    Convenience   10 / 10

    Trust   7 / 10

Less

Shannon miller (NSW), reviewed about 8 years ago

Defence Bank

Defence Bank home loan review

Overall rating   10 / 10

The Defcredit home loan has a useful mortgage offset facility and they pass on all interest rate reductions when they occur with no fuss. Highly recommended home loan provider.

Full review

The Defcredit home loan has a useful mortgage offset facility and they pass on all interest rate reductions when they occur with no fuss. Highly recommended home loan provider.

    Price   10 / 10

    Features   8 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Ian (VIC), reviewed over 8 years ago

Defence Bank

Defence Bank home loan review

Overall rating   5 / 10

    Price   4 / 10

    Features   3 / 10

    Customer service   7 / 10

    Convenience   8 / 10

    Trust   5 / 10

Less

Mozo reviewer (QLD), reviewed about 9 years ago

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Home loan comparisons on Mozo - rates updated daily

  • MOZO EXPERTS CHOICE AWARDS 2016

    loans.com.au Essentials Variable 80 Homebuyer Special (Owner Occupier, Principal & Interest)

    loans.com.au Essentials Variable 80 Homebuyer Special (Owner Occupier, Principal & Interest)

    • A super-low rate available to purchases and 20% minimum deposit required
    • No monthly fees, Redraw facility with no minimum
    • Split loan facility – up to five free splits with fixed rate or identical variable loan product

    interest rate

    3.54% p.a. variable

    comparison rate*

    3.56% p.a.

    upfront fees

    $520

    Go to site

    More info

    • A super-low rate available to purchases and 20% minimum deposit required
    • No monthly fees, Redraw facility with no minimum
    • Split loan facility – up to five free splits with fixed rate or identical variable loan product
    • Interest rate: 3.54% p.a. variable
    • Comparison rate*: 3.56% p.a.
    • Upfront fees: $520
    • Ongoing fees: $0.00
    • Discharge fee: $0.00
    • Extra repayments: yes - free
    • Redraw facility: yes - free
    • Offset account: no
    • Maximum loan to value ratio: 80.00%
    • Minimum loan amount: $50,000
    • Maximum loan amount: $1,000,000
    • Type of loan: Variable
    • Repayment types: Principal & Interest
    • Availability: Owner Occupier
    • Repayment options: Weekly, Fortnightly, Monthly
    Overall rating

    7.2

    Based on 202 loans.com.au home loan reviews

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  • MOZO EXPERTS CHOICE AWARDS 2016

    Featured product

     

    UBank UHomeLoan - Discount Offer (Owner Occupier, Principal & Interest)

    UBank UHomeLoan - Discount Offer (Owner Occupier, Principal & Interest)

    • $0 application fee for variable rate, $0 ongoing fees, $0 annual fees
    • No monthly fees
    • 20% minimum deposit required

    interest rate

    3.62% p.a. variable

    comparison rate*

    3.62% p.a.

    upfront fees

    $0

    Go to site

    More info

    • $0 application fee for variable rate, $0 ongoing fees, $0 annual fees
    • No monthly fees
    • 20% minimum deposit required
    • Interest rate: 3.62% p.a. variable
    • Comparison rate*: 3.62% p.a.
    • Upfront fees: $0
    • Ongoing fees: $0.00
    • Discharge fee: $0.00
    • Extra repayments: yes - free
    • Redraw facility: yes
    • Offset account: no
    • Maximum loan to value ratio: 80.00%
    • Minimum loan amount: $700,000
    • Maximum loan amount:
    • Type of loan: Variable
    • Repayment types: Principal & Interest
    • Availability: Owner Occupier
    • Repayment options: Weekly, Fortnightly, Monthly
    Overall rating

    4.8

    Based on 56 UBank home loan reviews

    Need more information?
    Go to site

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  • State Custodians Low Rate Home Loan with Offset (LVR<80%, Owner Occupier, Principal & Interest)

    State Custodians Low Rate Home Loan with Offset (LVR<80%, Owner Occupier, Principal & Interest)

    • $0 Application Fee, Free Redraws, Extra Repayments
    • P&I or Interest Only Up to 5yrs
    • Free 100% Offset Account

    interest rate

    3.64% p.a. variable

    comparison rate*

    3.67% p.a.

    upfront fees

    $286

    Go to site

    More info

    • $0 Application Fee, Free Redraws, Extra Repayments
    • P&I or Interest Only Up to 5yrs
    • Free 100% Offset Account
    • Interest rate: 3.64% p.a. variable
    • Comparison rate*: 3.67% p.a.
    • Upfront fees: $286
    • Ongoing fees: $0.00
    • Discharge fee: $300.00
    • Extra repayments: yes - free
    • Redraw facility: yes - free
    • Offset account: yes
    • Maximum loan to value ratio: 80.00%
    • Minimum loan amount: $100,000
    • Maximum loan amount: $2,000,000
    • Type of loan: Variable
    • Repayment types: Principal & Interest
    • Availability: Owner Occupier
    • Repayment options: Weekly, Fortnightly, Monthly
    Overall rating

    8.7

    Based on 3 State Custodians home loan reviews

    Need more information?
    Go to site

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  • MOZO EXPERTS CHOICE AWARDS 2016

    Newcastle Permanent Discounted Variable Home Loan (Owner Occupier, Principal & Interest) (Premium Plus Package)

    Newcastle Permanent Discounted Variable Home Loan (Owner Occupier, Principal & Interest) (Premium Plus Package)

    • 100% Offset Facility
    • $0 application fee for Personal and Car Loans
    • Additional repayments and redraws at any time

    interest rate

    3.64% p.a. variable

    comparison rate*

    4.03% p.a.

    upfront fees

    $0

    Go to site

    More info

    • 100% Offset Facility
    • $0 application fee for Personal and Car Loans
    • Additional repayments and redraws at any time
    • Interest rate: 3.64% p.a. variable
    • Comparison rate*: 4.03% p.a.
    • Upfront fees: $0
    • Ongoing fees: $395.00 yearly
    • Discharge fee:
    • Extra repayments: yes - free
    • Redraw facility: yes - free
    • Offset account: yes
    • Maximum loan to value ratio: 80.00%
    • Minimum loan amount: $150,000
    • Maximum loan amount:
    • Type of loan: Variable
    • Repayment types: Principal & Interest
    • Availability: Owner Occupier
    • Repayment options: Weekly, Fortnightly, Monthly
    Overall rating

    8.5

    Based on 80 Newcastle Permanent home loan reviews

    Need more information?
    Go to site

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  • HSBC Discounted Home Value Loan (Owner Occupier, Principal & Interest)

    HSBC Discounted Home Value Loan (Owner Occupier, Principal & Interest)

    • Owner occupier only
    • Available to new borrowings to HSBC of $50,000 or more
    • Your own Personal Relationship Manager

    interest rate

    3.65% p.a. variable

    comparison rate*

    3.66% p.a.

    upfront fees

    $0

    Go to site

    More info

    • Owner occupier only
    • Available to new borrowings to HSBC of $50,000 or more
    • Your own Personal Relationship Manager
    • Interest rate: 3.65% p.a. variable
    • Comparison rate*: 3.66% p.a.
    • Upfront fees: $0
    • Ongoing fees: $0.00
    • Discharge fee: $300.00
    • Extra repayments: yes - free
    • Redraw facility: yes - free
    • Offset account: no
    • Maximum loan to value ratio: 90.00%
    • Minimum loan amount: $50,000
    • Maximum loan amount: $7,500,000
    • Type of loan: Variable
    • Repayment types: Principal & Interest
    • Availability: Owner Occupier
    • Repayment options: Weekly, Fortnightly, Monthly
    Overall rating

    7.1

    Based on 32 HSBC home loan reviews

    Need more information?
    Go to site

    More info

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*The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a home loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years, and applies only to this example. Different amounts and terms will result in different comparison rates. Full comparison rate schedules are available from lenders. Costs such as redraw fees or early repayment fees, and savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

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