Turn on the equity in your home.

4 .77 %‡ p.a. Annual rate.

Easy access to equity.

Competitive interest rate.

No application or monthly fee.

No fees for extra repayments.

The Smart Mover line of credit home loan is a secured revolving line of credit. Often called an overdraft, a Smart Mover is a smart move to make to turn the value of your home into cash for whatever purpose.

Be ready for whatever life throws at you with a secure, low-rate stream of credit built on the equity in your property. A smarter way to readily access the value in your home you’ve worked hard for, a line of credit built into your mortgage can help with consolidating debt, funding a renovation or even a deposit for a new property.

Key features.

Access to equity via our award-winning app, Online Banking, Visa card or over-the-counter.
Available with the Ultimate Package.
No application fees.
No monthly fees.
No fees for extra repayments.

Smart Mover Line of Credit (Essentials home loan).	Annual Rate
Variable rate.‡	4.77% p.a.

Smart Mover Line of Credit (Essentials home loan with Ultimate Package).	Annual Rate
Variable rate.‡	4.62% p.a.

Fees.
Application fee.	$0
Loan Settlement fee.^	$275
Valuation fee.^
– Standard valuation.	$205.25
Loan Service fee.^ (monthly)	$8
Consent and variation fee.^	$250
Switching fee.^ (For example switching from fixed to variable interest rate.)	$300
Security discharge administration fee.^	$250
Substitution of loan security fee.^	$275
May be payable.^
– Solicitors and other parties actioning requests.	Not ascertainable
Rate lock fee.
– When you ask us to lock in a fixed, or guaranteed, rate of interest on a home loan.	0.15% of the fixed interest rate loan amount.
Break cost fee.†
Payable before expiry of any period when interest rate is fixed on any portion of loan due to loan being repaid, interest becoming variable or default. We calculate the ‘break cost’ using the following formula:
Let n = the remaining number of months for which the rate is fixed. Let A = current outstandings. Let P = monthly scheduled payments. Let z = annual fixed interest rate payable monthly. Let y = annual reinvestment rate payable monthly. Let b = (1+y/12)n Let d = (1+z/12)n. Then the Break Value is given by: (A/b)(d-b)+12P/(byz)(z(b-1)-y(d-1)).
Arrears reminder notice fee (per letter).	$20
Default Notice (enforcement notice).	$20
Redraw Fee (Basic Variable home loan only).	$25

Comparison rates based on a $150,000 secured loan over 25 years. Fees and Charges are payable. Terms and Conditions available on request. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Not payable under the Ultimate Package.

^†

Not payable on the DHOAS Premier and DHOAS Premier Low Rate Home Loan or Premier and Premier Low Rate Home Loan. Details available in branch or at defencebank.com.au

‡

Fees and charges are payable. Terms and conditions available on request.

Terms and conditions, fees and charges apply and are available upon request. Approval subject to Defence Bank's lending criteria.

Interest is calculated daily on the closing balance and credited on the last day of each month.

We may change our fees, charges and interest rates from time to time.

All products except foreign currency and insurance are issued by Defence Bank. Defence Bank recommends you read the Defence Bank Products and Services - Conditions of Use for any product you choose to take. Any advice contained on this website is general advice only.

We offer a range of DHOAS-compatible home loans for owner-occupiers.

View DHOAS home loans.

Use our home loan calculators to see how your dream home fits into your budget.

Calculators.

Any questions? Talk to one of our experienced, helpful staff.

Let's talk.

Find a home loan consultant at a branch near you.

Start a conversation.

You need to have at least 5% genuine savings plus enough funds to cover fees and charges.

Where you have less than a 20% deposit, lenders mortgage insurance (LMI) or, if you are eligible, a First Home Loan Deposit Scheme Guarantee will be required. It’s best to talk to a home loan consultant to find out more.

Look at our home loan options.

The Defence Home Ownership Assistance Scheme (DHOAS) assists current and former Australian Defence Force (ADF) members and their families to achieve homeownership.

DHOAS is administered by the Department of Veterans' Affairs (DVA) on behalf of the Department of Defence.

DHOAS provides eligible current and former serving members of the Permanent Force and the Reserves with a subsidy on the interest of their home loans.

The subsidy is paid monthly, directly into a DHOAS home loan. The amount of subsidy you receive depends on your subsidy tier level and the balance of your home loan up to your subsidised loan limit.

To learn more about Defence Bank DHOAS home loans click here.

To find out more about DHOAS and your eligibility click here.

Yes, we are one of the financial institutions who are able to offer this scheme to our members. To check your eligibility, visit the National Housing Finance and Investment Corporation (NHFIC) website.
Check if you’re eligible.