Bank First Mortgage Discharge Authority: Form and Steps

To obtain a Bank First discharge authority, start with the bank’s current Discharge request link and arrange the authority through its home loan team. As at October 2026, that link leads to an online Home loan request page. Complete the bank’s current instructions, obtain the required signatures and track the request through payout and mortgage release.

For brokers refinancing a client, collect the loan details and proposed settlement date before starting. A request acknowledgement begins the process. The file is complete when Bank First confirms the relevant loan accounts are closed and the mortgage release is recorded.

Rule Out an Outdated Bank First Form

Compare any form found online with the Discharge request link on Bank First’s current forms page, as at October 2026. Start under Loans and Credit Cards Forms, then Home Loans. Use that link even if an aggregator library or an old client file contains a PDF.

Bank First’s official history records the earlier Victoria Teachers Mutual Bank name and the change to Bank First in 2017. An authority bearing the older name needs confirmation from Bank First before use. Treat it as superseded until the bank accepts that version for the client’s request.

An old trading name is different from a legal entity name. Bank First’s current documents identify Victoria Teachers Limited, so that wording alone doesn’t establish that a document is outdated. Compare the document’s title, footer date and instructions with the version the home loan team supplies.

Save the old form separately if it helps explain an existing request. Send the client only the version Bank First has confirmed, so different borrowers don’t sign different authorities.

Request the Authority From Bank First

Use the Home loan request page reached from Bank First’s Discharge request link, as at October 2026. This is the current public request route. Start the request for discharge and provide the details prompted by the page.

1. Record the request date and the destination used. Keep a copy of the details submitted and any acknowledgement or reference number.
2. Obtain the home loan team’s authority and completion instructions. Tell the team whether the client is refinancing, selling or paying out from their own funds.
3. Save the supplied authority with its printed version or date. If it has neither, record when Bank First supplied it and retain the covering message.
4. Check which loans and properties the bank expects the authority to cover. Resolve a partial release or a guarantee before sending it for signature.

If the online page fails to load or doesn’t produce an acknowledgement, call Bank First on 1300 654 822. Explain that you are arranging a discharge and give the client’s loan reference and intended settlement date. Use the Bank First broker access guide for broker support routes.

Complete and Sign the Request

Prepare the client’s loan and property details together, then complete the authority Bank First supplies. Use the bank’s required fields and signing instructions. Keep names and account references consistent with the loan records.

Gather the following information before completing the request.

• Each borrower’s full name and current contact details.
• The membership or customer reference and every loan account or split being paid out.
• The address of each property being released and title details held in the settlement file.
• The discharge reason, proposed settlement date and any sale contract details relevant to the request.
• The incoming lender and the solicitor, conveyancer or settlement representative’s contact details, where applicable.
• Instructions for surplus funds and any linked account treatment the client wants the bank to arrange.

These details prepare the file for the bank’s authority. Enter additional information or attach documents where its instructions require them. For a partial discharge, identify both the property being released and the security remaining with the bank.

For joint borrowers, arrange every signature the authority requires. Check each signature and date before returning it. A broker’s authority to discuss the loan doesn’t replace a borrower’s signature on a discharge request.

Where a guarantor or a separately owned security property is involved, have Bank First identify the parties required to sign for that release. Keep the guarantor’s release instructions with the file. Paying out one loan doesn’t by itself show that every related guarantee has ended.

For an overseas borrower, arrange the signing method and any witness or identity requirements with the home loan team before sending the document. Bank First’s contact page, as at October 2026, lists +61 3 9834 8560 for overseas calls. If someone signs under a power of attorney, supply the authority for the bank to assess before relying on that signature.

Lodge, Settle and Confirm Release

Return the completed authority through the channel Bank First gives for the discharge, then obtain confirmation that the bank has a complete request. Its forms page, as at October 2026, lists general email lodgement to info@bankfirst.com.au unless a form specifies otherwise. It also lists post to PO Box 338, Camberwell VIC 3124 and branch lodgement.

Follow any discharge-specific destination supplied by the home loan team. Keep the sent email and attachments, postal delivery record or branch receipt. Record the bank’s reference separately from the incoming lender’s settlement reference.

1. Establish the processing timetable when opening the request. Ask the home loan team for the notice required for this settlement and the date it can be ready. Give that date to the incoming lender or conveyancer before committing to settlement.
2. Obtain acknowledgement of a complete authority. If a signature or loan reference is missing, correct it and confirm the revised request has been accepted.
3. Obtain the payout figure for the actual settlement date. Have the settlement representative reconcile it with the funds available and obtain an updated figure if settlement moves.
4. Confirm settlement and retain the completion record. Obtain Bank First’s loan closure confirmation and the settlement representative’s evidence that the mortgage release has been registered.

Bank First’s Fees and Charges effective 11 June 2026 lists a $395 discharge fee per title. Two titles would therefore mean $790 in discharge fees under that schedule, before other applicable costs. The same schedule lists an individually calculated break cost when a fixed loan is repaid during its fixed term.

Have Bank First confirm the fee and any break cost in the client’s payout. The payout must account for the debt and charges due on the settlement date, so a statement balance alone is insufficient. The bank’s loan terms effective 24 June 2026 allow interest to be debited on the day the loan balance is paid.

If settlement is delayed, update the date with both lenders and the settlement representative. If the bank says the authority is incomplete, compare its stated deficiency with the copy you lodged. Send the missing item against the existing reference and obtain confirmation that processing can continue.

After settlement, resolve any residual balance or remaining security with Bank First. Keep loan closure and mortgage release evidence together, because they verify different parts of the result. For the wider settlement sequence, see the mortgage discharge process, or use the lender discharge guides where the client has loans elsewhere.