Page 1 of 3 RRS001 (04/08) 133566 • Intranet
Whether a property/security has been sold, a loan is to be reﬁnanced or there is a need to release security,
Westpac requires the following information in writing in order to process your request:
• Full name of borrower(s) and guarantor(s)
• Address of property/security(s) to be released
• Loan account number(s)
• Signed declaration
• Contact details of the representative coordinating the settlement (name and phone number(s)).
• Anticipated settlement date and location of settlement
• Forwarding address for correspondence after settlement
Westpac Banking Corporation ABN 33 007 457 141 ‘the Bank’
• Please read these Instructions carefully before you complete the Request to Release/Substitute
Security Authority Form
Business Loan Connection
A business loan includes a Business Development Loan, Business Access Loan, Business Overdraft,
Commercial Bill and Banker’s Undertakings/Guarantees.
If you have or did have a business loan connection with the Bank, this may not be the correct
form to complete and may delay your settlement. Please contact your Relationship/Business
Substituting Security (Portability)
If your settlement situation matches any of the examples provided below it is a Portability and you must
complete Section D of the Request to Release/Substitute Security Authority form.
Existing security property has been sold/released and substitute security being oﬀered:
• is not currently held by Westpac.
• is currently held by Westpac but not linked to this loan.
• is currently held by another bank.
• is a new purchase security property to cover the existing loan(s).
• is a new security property which is unencumbered eg. clear title.
• is a term deposit until a new purchase property is located.
• is to release your term deposit and replace with a new purchase property.
Loan has been Repaid (Debt Repaid)
If your Release request matches any of the examples provided below it is a Debt Repaid and you must
complete Section F of the Request to Release/Substitute Security Authority form.
• Your loan has been repaid in full and you require Westpac to release your security property.
• Your loan has not been repaid in full, however your remaining security property(s) are worth enough to
support your existing debts.
• Security to be released is an Interest Bearing Deposit (IBD).
If we are discharging a Mortgage over a property:
Option 1 Westpac can register the Discharge of Mortgage at the Land Titles oﬃce on your behalf.
Option 2 Westpac can send you the Certiﬁcate of Title and Discharge of Mortgage for you to
register at the Land Titles oﬃce.
** PLEASE NOTE: if you choose option 1, a Document handling fee will be applicable in addition to the
State or Territory discharge registration fee.
Where a property has been sold to another party.
Where the loan is to be reﬁnanced either by Westpac
(Internal Reﬁnance) or another ﬁnancial institution
Please check the following deﬁnitions to determine what type of Release it will be.
Do not return page 1. Please retain for your information.
Once the form is fully completed and signed:
• If Substituting Security - Fax to
1300 651 753
• If Loan Repaid, Sold, or Reﬁnance - Fax to
1300 366 679
Mail form to
The Mortgage Centre, Reply Paid 2755, GPO Box 2755, Adelaide SA 5001
Once The Form Is Completed