Discharging your mortgage, explained
A discharge removes the lender’s mortgage from your title. You need one when you refinance, sell or pay the loan off.
When you need one
- Refinancing. The new lender pays out the old loan and takes over the mortgage.
- Selling. The mortgage is removed at settlement so the buyer gets clear title.
- Paying off the loan. The mortgage stays on the title until you ask for it to be removed.
How it works
- You complete the lender’s discharge authority form. Every borrower on the loan signs.
- The lender prepares a payout figure for the settlement date, including interest and fees.
- At settlement the loan is paid out and the discharge is lodged with the Land Titles Office.
When you refinance through us, we and the new lender coordinate this. When you sell, your conveyancer does. See how to start a discharge with your lender.
What it costs
Expect a discharge or settlement fee from the lender, a government fee to register the discharge, and break costs if you are leaving a fixed rate. Ask for the payout figure in writing early so there are no surprises.
Things that hold it up
- A missing signature from one borrower
- Redraw or offset funds not moved before settlement
- Direct debits still pointed at the old loan account
- Leaving the request until the week of settlement
Most lenders need at least 10 business days.
Questions people ask
I have paid off my loan. Should I discharge the mortgage?
You can leave it in place, and some people do so to keep a redraw facility open. To sell or borrow elsewhere, it needs to be discharged.
General information, last updated November 2026. Scheme figures, lender policies and duty rates change, so confirm them before you rely on them.
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