BankSA Mortgage Discharge Form and Release Steps

To discharge a BankSA mortgage, complete its discharge authority, collect all account-holder and guarantor signatures and email the signed form to mortgagesecurityvariations@banksa.com.au. For a refinance, BankSA’s instructions as at October 2026 start with a call to 1300 308 584 or its callback form.

The authority starts the request. Your file still needs a settlement payout figure and confirmation that the mortgage has been released. The discharge of mortgage guide explains how these stages fit together across lenders.

Find BankSA’s Discharge Authority

Get the BankSA discharge authority from its home loan forms page, which lists Request to Amend an Existing Security. As at October 2026, that official download is the three-page BankSA PDF carrying version code WBCBSA05801 0125, indicating January 2025.

BankSA’s refinance instructions call the form it sends a Property and Security request form. Its paid-off-loan page also links an online Property and Security Request form. Use the form supplied for the client’s request or the official BankSA download, and retain the completed copy.

BankSA is a division of Westpac Banking Corporation, but its own instructions point to a BankSA form and BankSA email address. They don’t direct this refinance request to a generic Westpac-branded discharge authority. Match any form supplied by the bank to the client’s BankSA loan before collecting signatures.

Prepare the Signatures and Loan Details

Prepare the client, property and settlement-party details before sending the authority for signature. BankSA’s January 2025 PDF requests the following information.

• Loan account, customer names, contact details and correspondence address.
• Settlement party’s firm, contact person, telephone, email and fax.
• Property address, state, postcode, known title reference, sale price and settlement date and location.
• Repayment, limit, closure or savings-conversion instructions, surplus destination and future address.

For a full discharge, complete sections 1 to 4, 6 and 7. Section 5 covers replacement security.

As at October 2026, BankSA requires all account holders and any guarantors to sign. For joint borrowers, collect each person’s signature even when one borrower handles the refinance. Supply documents supporting executor or power-of-attorney signatures.

For a company borrower, arrange signatures by people authorised to execute for that company. For trust borrowing, identify the trustee named in the loan documents and arrange execution in that capacity. Give BankSA the company or trustee name and proposed signatories when requesting the form, so the signing arrangement is settled before signatures are collected.

Compare the signed authority with the loan statements. Resolve an omitted account or mismatched borrower name before lodgement. The BankSA broker portal guide covers access for a separate BankSA application.

Lodge the Authority With BankSA

Email the signed BankSA discharge authority to mortgagesecurityvariations@banksa.com.au and retain the sent email with every attachment. BankSA’s January 2025 form requires lodgement at least 10 business days before settlement. Allow for public holidays when counting backwards from the proposed date.

1. Send the complete signed form. Record the submission date and the accounts covered.
2. Retain BankSA’s acknowledgement or confirmation letter. As at October 2026, its refinance page says to expect a letter about 10 days after it receives everything needed.
3. Have the nominated conveyancer or incoming lender request BankSA’s payout figure for the intended settlement date. Keep that figure with the settlement instructions.
4. Have that party coordinate the settlement booking with BankSA. Obtain confirmation of the agreed date before telling the client settlement is arranged.

Section 2 nominates the party authorised to discuss the request with BankSA. Give that party a copy of the signed authority and BankSA’s correspondence so both sides are working from the same request.

A confirmation letter’s expected arrival is separate from a booked settlement. If correspondence hasn’t arrived, follow up through the refinance contact with the sent form and submission date. If BankSA requests a missing signature or account detail, return the corrected document and confirm the settlement timetable again.

Check Payout and Release

Reconcile the BankSA payout statement with the accounts being closed before settlement funds are sent. As at October 2026, BankSA describes the payout as remaining principal plus outstanding interest and relevant fees.

BankSA’s fee schedule dated 22 April 2025 lists a $350 loan discharge fee. Its paid-off-loan instructions specify $350 per loan account. The schedule also lists individually calculated break costs for early repayment of a fixed-rate loan.

Check each account’s balance and interest against the payout date. Match discharge fees and any break cost to BankSA’s statement, and account separately for title registration or settlement-provider charges. If settlement moves, obtain the amount needed for the revised date before finalising funds.

After settlement, retain the settlement confirmation and final loan statement. Have the conveyancer or incoming lender confirm the discharge is lodged and obtain evidence of registration on the title. A repaid balance alone doesn’t prove removal of the mortgage.

BankSA’s January 2025 authority cancels facilities linked to the discharged loans, including the offset facility. Check which transaction accounts the client wants to keep and whether an offset link has ended. Move payments that rely on a closing account, and confirm the surplus reaches the nominated destination.

For another lender’s authority, use the mortgage discharge forms. Close the file when the payout is reconciled, the intended loan accounts are closed and evidence confirms release of the intended property security.