Broker guide
Permanent Custodians Limited Discharge Authority
Find the right loan manager or servicer for a Permanent Custodians mortgage, then check the statement, current authority, payout steps and final release.
- Published
- Updated
To arrange a Permanent Custodians Limited discharge authority, identify the loan’s current manager or servicer and use its release process. The registered mortgagee’s name alone doesn’t identify the form or the team handling your client’s payout.
Start with the latest loan statement, the loan agreement and any notice that servicing has changed. You also need the properties being released and the solicitor, conveyancer or incoming lender handling settlement.
Registered Mortgagee and Loan Servicer
The registered mortgagee is the party recorded against the mortgage on title, while the servicer handles the loan’s administration. Permanent Custodians Limited can appear as credit provider or trustee alongside a separate servicing business.
For example, Bluestone’s discharge authority names Bluestone Servicing Pty Ltd as acting for the credit provider, Permanent Custodians Limited. A Loanworks authority hosted by MSA National also names Permanent Custodians alongside Sintex Consolidated, trading as Loanworks. These documents show why the mortgagee’s name cannot establish a single discharge route.
- Match the title and mortgage details to the client’s current loan records. Record the account number, the servicing business and any former trading name. Check a transfer notice against the latest statement when the names differ.
Use the current account contact to resolve a mismatch before circulating an authority. Ask that team to identify the servicing arrangement for the specific account and confirm who accepts its release instruction. Keep the reply with the file so the settlement representative can follow the same route.
Find the Correct Authority
Obtain the discharge authority through the current servicer’s official website or its authenticated account service. Select the request for the actual transaction: full repayment, release of one property or replacement of security.
- Find the servicer’s account-management forms and check the submission instructions on the form itself. For a confirmed Bluestone account, its official loan discharge form supplies the authority and delivery instructions. It names Permanent Custodians as credit provider, but applies to Bluestone’s servicing process.
An old broker download can carry a familiar mortgagee name and still contain outdated processing instructions. The Australian Institute of Conveyancers NSW warns that its member-supplied discharge authority collection requires users to establish that the relevant mortgagee still uses the selected form.
If the current statement names a different business from the original agreement, resolve that change through the current account team. Don’t choose a form solely because its heading contains Permanent Custodians.
Sign and Lodge the Request
Complete the authority against the loan records, then obtain the signatures and lodge it through the route the current servicer specifies. Read the transaction options before signing: a full discharge and a partial security release give different instructions.
- Check every borrower’s name, each relevant loan account and the complete address of each property being released. Add the proposed settlement details and the acting solicitor or conveyancer. For a refinance, supply the incoming lender’s details wherever the form requests them.
Use the form’s signing requirements for individual, company or trust borrowers. Bluestone’s form requires all loan parties to sign and requires a new authority when the listed authorised representative changes. Its stated processing period starts when it receives a fully completed form.
Retain the signed authority and proof of delivery. If a required signature or account detail is missing, correct the request before treating it as ready for processing. A sent email records transmission, so obtain a separate acknowledgement that the recipient has accepted the request for processing.
Track Acceptance and Release
Track the discharge through acceptance, payout and confirmation that the intended security is released. Paying a balance and removing a mortgage from title are separate parts of completing the transaction. NAB’s mortgage discharge explanation describes discharge as removing the mortgage from the property’s title after repayment and finalisation.
- Record the servicer’s reference, any outstanding requirements and the settlement representative’s contact. Have the representative reconcile the final payout with the proposed settlement, including applicable fees and fixed-rate break costs. Request a revised payout if settlement moves beyond the figure’s stated basis.
For a partial release, confirm which property leaves the security and which loan accounts remain open. A request marked as full repayment could conflict with the client’s intention to retain the facility.
If acknowledgement hasn’t arrived, check delivery and whether the request is complete before resending it. If the account or property is disputed, reconcile the authority with the statement and security records before settlement proceeds.
Close the file only when the representative confirms the payout and the agreed security release. Keep the final account outcome and registration evidence together, with any remaining security clearly recorded. The broader discharge-of-mortgage workflow covers the shared payout and settlement steps.
