Buying & Selling-Making your Money and Defence Allowances work for YOU!

Posting to a new location is a huge life event. Whether you do it every few years or, like me, have long stretches between moves because you choose to URF (unaccompanied Resident Family), it can be a lot.

Throw in selling a property, and the TO DO list can seem overwhelming.

It’s understandable that maybe you just want to take a minute between selling in one location and buying in the next so that you can catch your breath, unpack, and explore your new location.

Soooo, in the meantime, what do you do with the funds from the sale of your property, and which defence allowances can you access?

Queue Defence Bank’s Regional Manager Lending Distribution Ashley to walk us through some of the options.

In this episode, Ashley and I speak about;

-First steps when it comes to selling a property, your mortgage and everything in between

-The paperwork and admin you can get sorted ahead of time before selling and posting out

-What happens once your property sale goes through and the funds are released to your bank

-DHOAS (Defence Home Ownership Assistance Scheme) payments and what happens once you sell

-Applying for a new DHOAS certificate and accessing payments when it comes time to buy again

-Guidelines around accessing DHOAS when buying property upon transition out of Defence

-What is the HPSEA (Home Purchase or Sale Expenses Allowance), who can access it and when

-The costs associated with selling in one location and buying in another and what you can claim

-What to do with funds from the sale of a property and how to make the money work for you

-High-interest saving accounts, fixed-term deposit options, and the Salute Account explained

Check out the Defence Bank website for further information about buying and selling a property, as well as DHOAS, HPSEA, and other home buyer allowances. You can also find out more about Defence Bank's high-interest savings accounts, fixed-term deposit options and the exclusive Salute Account, which rewards ADF members for service milestones.  www.defencebank.com.au