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What does it mean for a mortgage to be discharged?

If you’re selling your property, paying off your home loan in full, or refinancing your home loan, you’ll need to complete a mortgage release or discharge form.


If you have a mortgage, your lender holds the Certificate of Title until your loan is repaid in full. If you’re selling your property, paying off your home loan in full, or refinancing your home loan, a mortgage release or discharge needs to be recorded to legally release your current lender from mortgage obligations. 

Your lender, or discharge authority, should have their own mortgage discharge forms which they can supply you with. Some make them available online; others require you to call them to get the form.

Your lender will also have to complete a full credit assessment on your financial situation.

What do I need to complete the form?

To complete your discharge form you’ll need:

  • Borrower names
  • Guarantor names (if applicable)
  • Home loan account number(s)
  • Line of credit number(s)
  • Offset account number(s) (if applicable)
  • Security / Property details
  • Solicitors / Broker / Other financial institution contact details
  • Contract of sale (if Property Sold)

How long does it take to discharge a mortgage?

Generally it takes between 14-21 business days to complete the discharge process. At one stage it took less time, around 10-14 business days, but these days more people are refinancing their home loan so there are more discharges taking place.

How much does a mortgage discharge cost?

The cost of a mortgage discharge is usually around $160 although the charge can be as high as $600. If your loan is fixed and you refinance (and break the loan), you may get fixed break costs on top of that.

What is a partial discharge?

A partial discharge is when you have more than one property secured by a loan and you want to release one of those properties as security – without repaying the full loan.

For more information about mortgage discharges and partial discharges, speak to a uno adviser.

It’s important to note that the information we give here is general in nature – no matter how helpful or relatable you find our articles. Even if it seems like we’re writing about you, it’s not personal or financial advice. That’s why you should always ask a professional before making any life-changing decisions.

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Hannah Tattersall worked as a journalist in Sydney, New York and Edinburgh before joining uno as its Content Editor. She has written for The Australian Financial Review, The Sydney Morning Herald, Qantas The Australian Way and In The Black, among other titles, and worked for 21st Century Fox and News Corp. She writes content aimed at buyers, investors, refinancers and anyone interested in the home loan process and welcomes feedback on how we can make uno's content better for you.

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