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Questions about changing your home loan security

If you’re refinancing, you will need to fully discharge your mortgage.


Discharging your mortgage means you are removing Westpac’s mortgage from your property title.


You can start this process by completing the Property and Security Requests form.


If you’re considering refinancing your loan, we’d love the opportunity to understand your needs and see how we can help. Our team can discuss ways to save you time and money by reviewing your current loan and banking situation, as well as providing you with valuable information to find the best outcome for you. Talk to us today on 131 900.

Yes, you can – this is called a partial discharge.


A partial discharge is when you have more than one property that is secured by a loan, and you would like to release one of those properties as security, without repaying the full loan.


You can start this process by filling out the property and security request form.

If you would like to replace your existing security with another property, you can apply for a substitution of security. This commonly occurs when you are selling your home and would like to retain your existing loan for your next property.

You should use the Property and Security Requests form if you are a:

  • Customer who has or used to have a Westpac home loan
  • Guarantor who is party to a Westpac home loan
  • Solicitor and Conveyancers acting on behalf of a Westpac home loan client
  • Power of Attorney or Executor acting on behalf of a Westpac home loan client
  • Broker acting on behalf of a Westpac home loan client
  • Branch Manager, Lender or Personal Banker assisting customers.

In the Property and Security Requests form, we’ll ask you for:

  • Information about all borrowers
  • Guarantor information (if applicable)
  • Broker, Solicitor, Executor and Power of Attorney information
  • Home loan account numbers
  • Information about new and existing securities, properties or term deposits.

If you’re substituting your security – switching properties on the same loan – you will need:

  • A signed copy of the Property and Security Requests form
  • A copy of the signed and dated Contract of Sale
  • The Power of Attorney if not already held by the bank (if applicable)
  • A copy of the original title when an unencumbered property is being offered as security.


If you’re paying off part of your loan or refinancing to another lender, you will need:

  • A signed copy of the Property and Security Requests form
  • The Court Order or The Power of Attorney if not already held by the bank (if applicable).


If you’ve paid down your loan and would like to request your land title, please complete the Property and Security Requests form or visit your local branch where we’ll be happy to assist.

If you are requesting a release and/or variation of security on behalf of your client, please complete and submit the Property and Security Requests form (consumer loans) or the Request to Release/Substitute Security form (business loans).

Information for Solicitors and Conveyancers (PDF 69KB) (PDF 69KB) (applicable to consumer customers).