Pay off and discharge my home loan
I’ve paid off my home loan. What’s next?
Congratulations, now let’s release the mortgage
To remove the mortgage from your property and enjoy the financial freedom of owning your own home, you'll need to follow and complete the instructions on the Property and Security Release form, including any associated costs.
I want to pay off my home loan faster
5 simple strategies to get you there sooner:
- Choose the right rate type for your needs
- Consider principal and interest repayments
- Pay extra payments and more frequently
- You may save on interest if an offset is possible
- Look at setting a shorter home loan term.
Ready for your next property?
1. If you make a prepayment beyond the prepayment threshold or change to another repayment type then break costs and fees may apply. Customers can make prepayments of up to the $30,000 prepayment threshold for the entire fixed period without break costs or fees applying. For fixed rate loans taken up prior to 18 August 2019, customers can make prepayments of up to the $10,000 prepayment threshold in each 12-month period without break cost or fees applying. Prepayment break costs are explained in Things You Should Know About Break Costs.