MyState Bank Mortgage Discharge Authority: Form and Steps

To start a MyState discharge authority request, the borrower must call MyState Bank’s Customer Care team on 138 001. MyState’s broker resources direct customers to this phone route, as at October 2026. The broker can prepare the loan details and coordinate settlement after the customer starts the request.

Check the Statement Shows MyState Bank

Check the loan statement’s brand, lender name and account numbers before requesting a discharge. Record each loan split and every property securing the debt. A borrower with two properties needs clear instructions about which property will be released and which will remain as security.

As at October 2026, MyState Limited lists both MyState Bank and Auswide Bank among its retail brands. Use the Auswide Bank discharge guide for an Auswide-branded loan. Shared group ownership doesn’t determine which discharge instructions apply to the client’s account.

For clients with loans at several banks, use the lender discharge guides to keep each request separate.

Obtain MyState’s Discharge Authority

Get the MyState discharge authority form or instructions through the customer’s call to Customer Care. The MyState broker resources page labels this route “Discharge requests” and says the customer must make the request directly. Its notice took effect on 1 April 2017 and remains displayed as at October 2026.

1. Have the borrower call 138 001 with the loan account numbers and property address. Explain whether the request is for a refinance, sale or release after repayment.
2. Give the proposed settlement date and the incoming lender’s or conveyancer’s contact details. Ask the bank to send the authority and its return instructions for this account.
3. Save the document the bank supplies. Record its exact title, version or issue date beside the date received, including for a PDF sent electronically.

A full discharge releases the mortgage as the secured debt is paid out. A partial release removes one property while debt or other security remains. A security substitution replaces the property securing a continuing loan, so it needs the bank’s approval of the replacement security.

MyState publishes a separate Mortgage Substitution of Security form, version 7.0 dated 1 August 2023. That form is for a security swap. Use the bank’s discharge request route when the borrower is refinancing the loan away.

Signatures and Lodgement

The customer starts the discharge by phone, then follows the bank’s instructions for completing and returning the authority. MyState’s current broker resources retain that customer-led route, as at October 2026.

4. Match each borrower’s name and each mortgagor’s name to the bank’s documents. A mortgagor is a property owner who gives the mortgage. Obtain every signature required by the authority MyState issues, including any separate guarantor or entity authority it requires.
5. Return the completed authority through the channel the bank supplies. Keep the signed copy and proof of delivery, then obtain the request reference and confirmation that the bank has everything needed.
6. Give the bank’s confirmed processing timetable to the incoming lender or conveyancer. Track the settlement booking separately from receipt of the authority.

MyState’s 1 August 2023 security-substitution form requires all parties to sign where deeds or facilities are in joint names. It also requires 30 days’ notice before settlement for a security substitution. That notice applies to a security swap, not automatically to an ordinary refinance discharge.

If the request isn’t progressing, quote the reference and ask which document or signature is outstanding. Resolve the missing item before relying on a settlement date. For access and broker support, use the MyState broker access guide.

Payout and Release After Settlement

Arrange a payout figure for the actual settlement date through the incoming lender or conveyancer. MyState’s Household Lending fees and charges, effective 30 March 2026, lists a $380 mortgage discharge fee. It lists fixed-rate break costs separately, calculated at payout if the loan is repaid before the fixed period ends.

The discharge fee is an Australian-dollar lender fee, not the total cost of leaving the loan. The bank’s loan offer governs applicable fees. Include accrued interest and any other applicable costs in the settlement funding calculation.

7. Have the settlement representative obtain the dated payout amount and reconcile it with available funds. If settlement moves, arrange an updated figure before paying the bank.
8. After settlement, obtain confirmation that the payout reached the loan and the intended mortgage release was lodged. Have the conveyancer confirm registration when completed.
9. Check the final loan statement and each linked account. Give separate instructions for any offset or transaction account the client wants closed, after redirecting salary and scheduled payments.

A loan balance of zero and a registered mortgage release are different checkpoints. If a loan still shows a balance, reconcile the final payout and settlement date with the bank. If the mortgage remains on title, ask the settlement representative to trace the discharge lodgement and registration.

Keep the payout statement, release evidence and account-closure confirmations together. The mortgage discharge process guide explains how the borrower, broker and settlement representative divide these tasks.