Bank Australia Discharge Form: Authority and Steps

For a Bank Australia discharge form when refinancing, arrange the completed discharge request through the incoming lender and contact Bank Australia to start the process. The request authorises the mortgage release when the existing loan is paid out. Keep the signed authority and the settlement record together so you can follow the file through to release.

Find Bank Australia’s Authority Form

Bank Australia’s home-loan help page, checked on 3 October 2026, says the incoming financial institution must provide a completed discharge request. Its instructions apply when your client refinances away from Bank Australia. Start with the incoming lender’s settlement team for the authority used in that refinance.

Call Bank Australia on 132 888 to initiate the discharge and obtain the return instructions for the file. The bank also names email as an initiation route. Use the address it supplies for the discharge, rather than sending signed loan documents to an unrelated department.

For an account-specific enquiry, the borrower can use Secure Mail in the Bank Australia app or internet banking. The bank’s contact page supplies the phone number and messaging options. The borrower needs their customer number and verbal password for a call, and must keep that password private.

Save the issued Bank Australia discharge authority form or incoming lender’s discharge request with its exact title and the date received. Keep the accompanying return instructions too. For a sale instead of a refinance, Bank Australia directs the customer to initiate discharge by phone or email.

For broker-channel support, use the Bank Australia broker access guide. The Bank Australia lending policy guide covers credit rules for a new application.

Details and Signatures the Bank Requires

Prepare the borrower and security details before completing the discharge request, then follow the fields and signing instructions on the authority supplied for your file. Bank Australia’s refinance procedure, as at October 2026, starts with the incoming institution’s completed request. Use the issued document for its precise field requirements.

Gather these details so the request identifies the intended release:

• Each borrower’s full legal name and contact details.
• The Bank Australia loan account numbers being paid out.
• Each property address being released and the relevant title details available to the settlement representative.
• The proposed settlement date and the incoming lender’s details.
• The solicitor, conveyancer or settlement representative’s name and contact details.
• Instructions for any remaining funds and any loan or security that must stay in place.

For joint borrowers, complete the required signature blocks for each borrower named in the authority. A broker’s authority to discuss the loan doesn’t replace the borrower’s discharge signature. Return a complete signed copy, including any pages that carry release instructions.

If a guarantor’s property also secures the loan, identify that property separately and obtain the bank’s directions for the guarantor’s consent and release. Paying out the borrower’s account alone isn’t evidence that every mortgage has been removed.

For a company borrower, use the company’s legal name and the execution method required for that authority. For a trust, identify the trustee and its capacity. Have the client’s solicitor resolve execution questions before collecting signatures, including whether company officers or a trustee must sign.

Lodge and Book Settlement

Arrange lodgement through the incoming lender’s settlement team, using the return channel Bank Australia supplies when the discharge starts. As at October 2026, Bank Australia requires the incoming institution’s completed discharge request for a refinance. A phone call opens the process, while the completed request supplies the discharge instructions.

1. Open the discharge with Bank Australia and give the proposed settlement date. Obtain the processing timetable and the required lead time for this file before agreeing a final date.
2. Return the completed authority through the instructed channel. Keep the signed version, submission date and any delivery receipt or acknowledgement.
3. Confirm Bank Australia has received a complete request. Record the discharge reference and resolve any missing signature or security detail before settlement booking.
4. Have the incoming lender or conveyancer coordinate the payout figure and settlement arrangements with Bank Australia. Record who owns this step so the broker and conveyancer don’t assume the other has done it.
5. Obtain confirmation that the outgoing and incoming parties are ready for the same settlement date. If that date changes, arrange an updated payout figure before proceeding.

Bank Australia supplies a payout figure for the date requested. Its internet-banking balance excludes accrued interest and applicable fees, so that displayed balance cannot replace the settlement payout figure.

If a request stalls, use its reference to identify whether Bank Australia is waiting for the authority, a signature or settlement instructions. Correct the missing item and retain the bank’s acknowledgement. The mortgage discharge process guide explains the wider settlement roles.

Fees and Release Confirmation

Bank Australia’s lending fee guide, effective 24 August 2026, lists a $275 mortgage discharge fee, with statutory government registration fees still payable. The $275 is an Australian-dollar amount and excludes those government fees. Include it in the refinance costs alongside any legal or settlement charges for the file.

A fixed-rate break fee can also apply when the loan is repaid during its fixed period. The guide distinguishes loans entered into before 1 June 2022 from those entered into from that date. Obtain the bank’s break-fee quote for the client’s loan and intended repayment date before the client commits to the refinance.

After settlement, retain the completion confirmation and final loan statement. Ask the settlement representative for evidence that Bank Australia’s mortgage has been discharged from each title covered by the request. Match that evidence against the property list, including any guarantor security.

If the loan is paid out but a mortgage remains on a title, follow up the release through Bank Australia and the settlement representative. Keep the file open until the release evidence accounts for every intended security. Use the lender discharge guides if the client also needs to release another bank’s mortgage.