What does it mean to discharge your mortgage?
A mortgage discharge is when a mortgage securing your home loan is removed from the title of your property once you have repaid your home loan in full.
You’ll need to complete a mortgage discharge or release form to release the mortgage over the property you have provided as security to your home loan. The bank or lender holds the title to your property until the home loan is repaid in full. Once you have repaid your loan and the discharge process has been finalised, your lender’s mortgage is removed from the title of your property.
When to use a mortgage discharge authority form?
Use the mortgage discharge authority form to give us instructions about your loan when:
What type of customer are you?
Use this form if you are a personal bank customer looking to discharge your mortgage.
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