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Macquarie Mortgages Residential Loan Discharge Process

Macquarie Mortgages requires a Discharge Authority to be signed by our customers to initiate the discharge of a loan. Please note, in order to calculate the payout figure, all access to available funds will be suspended on your loan account(s) four (4) business days prior to the discharge of your loan.

How to complete a ‘Discharge Authority’

1. Download the generic Discharge Authority

2. Complete the following sections:

Borrowers Details

  • Borrower name(s) in full
  • Name of Borrower to be contacted
  • Daytime contact phone number
  • Mailing address for all correspondence after settlement

Settlement Details

  • Expected settlement date (if known)
  • The account number for the loan(s) being discharged (if known)
  • If the loan is to be paid out in full, mark the related ‘yes’ box
  • If partial release of security is required, mark the related ‘no’ box and complete the amount to be discharged
  • Security property(s) address
  • Details of your solicitor, conveyancer or refinancing agent
  • Name of first Mortgagee if not Perpetual Trustees Australia Ltd

Declaration

  • In the event of excess funds after settlement, record the account name, account number and bank/state/branch number of the bank account where funds are to be credited. We can deposit funds into most bank accounts, however, we reserve the right to draw a cheque for the excess settlement funds if we are unable to deposit the funds into your bank account.
  • Record the full name of all parties to the loan and indicate in the related tick box if they are a Mortgagor, Borrower or Guarantor.

3. Signing the Discharge Authority

All noted parties must sign and date the Discharge Authority under their name(s). This includes all Borrower(s), Mortgagor(s) and Guarantor(s).

4. Send the ‘Discharge Authority’ to Macquarie Mortgages

Once completed and signed, please send the Discharge Authority to Macquarie Mortgages Pty Ltd using one of the following methods:

By Mail:
Macquarie Mortgages Pty Ltd
GPO Box 4294
Sydney NSW 1164

By Fax:
Macquarie Mortgage Pty Ltd
(02) 8232 3370