What’s a discharge/refinance authority?
Last updated 17 November 2017
A discharge/refinance authority is used to release the security (e.g. property or cash security) you’ve provided for a home loan. You’ll use this authority if, for example, you’ve sold your property and wish to pay off your CommBank home loan in full.
You’ll need one for these situations:
- Selling / sold a property – you’re selling a property
- Refinancing a property – you’re refinancing your loan to another financial institution
- Loan repaid – you’ve repaid your home loan
- Substituting an existing security – you’re substituting an existing security for a another security, e.g. you’ve sold your existing property and bought a new property but plan to keep your existing loan
- Releasing a guarantor – you’re releasing a guarantor from your home loan