
Releasing the security on your business loan
Selling or paying off your business or property loan? Changing security or refinancing? We're here to help with the next steps.
What does it mean to release my loan security?
Also known as discharging your loan, it means you’re removing the asset you used as security for your loan. That asset could be property, a guarantor, or a linked term deposit. When you release your loan security the loan agreement you had now no longer stands.
When would you need to release your loan security?
Sale of a business or property
Paid off your business loan in full
Releasing the asset held as security
Refinancing with another lender

All it could take is a quick chat
Call us or send an enquiry
Selling, updating or refinancing your loan? A quick chat could help us better understand your business needs to guide you on your next steps.
If you have a Relationship Manager reach out to them. Or leave your details and one of our finance specialists will get back to you within 1-2 business days.
How do I do it myself?
You’ll need to be a business customer.
You’re a business customer if:
- You have borrowed as an individual, a company, or a trust
- Your loan is for business purposes or residential/non-residential investment
- You have access to both consumer and business lending products
- The security for your loan can include residential property or assets held by a company or trust to secure both business and consumer loans.
What if I'm not a business customer? You'll need to complete the home loans release of security process instead.
Before attempting the process, you’ll need all the following information:
- Your latest Business Finance Agreement (BFA)
- Details of all borrowers and guarantors
- Details of all security providers
- Details of your broker, solicitor, executor or power of attorney
- Information regarding existing loans, properties and term deposits (includes reference numbers, Titles, etc)
- Information regarding existing or new properties
- Account details for surplus funds to be credited
- Account details for shortfall of funds, fees or government charges to be debited
- If applicable, details of the settlement rep or contact person
- Details of the WBC branch for document delivery.
What if I don't have all the information needed? Contact your Relationship Manager or send an enquiry and we'll help you through the process.
Do you have everything you need?
If you think you have all the information, you can start and submit your Business Release of Security online. But be aware that if anything is missing, you won't be able to continue or save your progress. To avoid the hassle, contact your Relationship Manager or send an enquiry, and we'll help you through the process.
Frequently asked questions
The form can be used for business customers for the following products:
- Business loans
- Investment property loans
- Home loans
- Business overdrafts
- Business credit cards
- Transaction Negotiation Authorities
- Equipment finance
- Invoice finance
- Trade finance.
No, you can’t save your progress when using the form. You can only save the form once you’ve completed it and downloaded it as a pdf.
That’s why it’s important that you have all the required information before attempting to complete the form. If you’re not sure or need help, contact your Relationship Manager or send an enquiry, and we'll help you through the process.
If the required security type is not listed on the form, select Other. This will allow you to enter the details manually.
To avoid reprocessing delays ensure the correct people sign the form.
You can sign the form using either a handwritten (wet) signature or an electric signature.
Wet ink signature
Download and print the completed form, then sign the form with a pen.
Electronic signature
You can sign:
- With a stylus or your finger on a touchscreen
OR
- By inserting a signature into a signing panel, using an electronic signing platform (e.g. Adobe Acrobat).
Please note, the following are not accepted:
- Capturing an image of a signature and pasting it into the document
- Cutting and pasting an image of a signature
- Typing a name as a signature.
No, you have to use the online version to submit a request. If you need help, contact your Relationship Manager or send an enquiry, and we'll help you through the process.
Things you should know
Protecting your privacy is fundamental to the way we do business. We are committed to earning and maintaining your trust by carefully and respectfully managing your personal information and credit-related information.