Carlos was amazed by what happened when his family began to look at refinancing their home loan.
“We were open to listen to all options and move banks.
“We were with Westpac but our move to Defence Bank has just been fantastic.
“My wife works for the Army so we had that natural connection with Defence.
“We were able to move to a DHOAS loan which has allowed us to make a substantial difference to paying our home loan off sooner.
“I must admit I hadn’t really looked at Defence Bank before but would recommend it highly. Since the beginning our home loan consultant Tammy was so approachable and helpful.
“Our application was able to be processed so quickly online and it was clearly the best option for us.
“Westpac didn’t call us when the relationship was ending and we are really happy we made the move.”
Carlos and and his wife have a young family with two daughters, aged 5 and 2.
The family live in Brisbane's north-west in a three bedroom house with two bathrooms, along with a “nice little backyard” for the girls.
“Our eldest will start at primary school next year. It’s not a forever home but it will be terrific while the girls are young and it just fits us perfectly.
We really like this area and Brisbane. My wife's job tends to move us around a bit, but we have settled in really well here.”
Carlos moved to Australia six years ago from Colombia. He works for an AV company after a varied career which has included studying and obtaining a Master of Finance since arriving in Australia.
He admits his finance background was useful when deciding to refinance.
“At the start it was all about having the most money in our pockets. We had some friends in the army so it was probably their really strong recommendation to look into it that made us make the move.
“The actual process was incredibly easy and smooth. We had a couple of chats with (home loan consultant) Tammy after work. She was really clear and calm and took us through all our options.
“Once we had decided to switch banks, it was so simple.”
Carlos made special mention of the online application process used to determine their suitability for a loan.
For Defence Bank, the online process significantly reduces the time it takes from loan application to approval and funding.
“Defence Bank gave us a link where we could upload everything and we didn’t need to go into a branch.
“That process was super easy for us and being online made it such a convenient way to submit all your paperwork.”
Encouraging people to investigate their options, Carlos says if people meet eligibility requirements to apply for a DHOAS loan, it is something to find out more about.
“I would just say to people it is worth having a look at a DHOAS loan. You might be surprised how it ends up when you look at the numbers.
“For us it means we can probably be in a position to pay down our loan much sooner and I like that.”
Important note: This information is of a general nature and is not intended to be relied on by you as advice in any particular matter. You should contact us at Defence Bank to discuss how this information may apply to your circumstances.