Need to fill in the NAB discharge authority form? We guide you through the steps.
Home loans can be discharged for a variety of reasons, including the sale of your property, refinancing your loan or paying it off. When you discharge your home loan, you’ll need to let the lender know what you plan to do with your loan account. To do this, you’ll need to fill out what’s known as a discharge authority form. If you’re an NAB customer, the process for filling out this form is as straightforward as the steps below:
1. Download and print the form
NAB’s discharge authority form can be accessed online. A link to the form is below:
2. Let NAB know about your circumstances
You’ll need to let NAB know why you’re discharging your loan. It could be because you’ve sold your property, because you’re refinancing, because you’re releasing a guarantor or for a variety of other reasons.
3. Fill in your contact details
NAB will need to know your name and contact details such as your phone number, email and address.
4. Fill in your property details
NAB will need to know the address and sale or purchase price of the property or properties you’re discharging the loan for.
5. Tell NAB to what to do with your accounts
Here you’ll fill out the BSB and account number of the loan account you’re discharging. You’ll also need to let NAB know whether you’re closing or keeping the account. If there is any surplus or shortfall, you’ll need to provide NAB with the details of an account to pay into or debit from.
6. Let NAB know if a representative is acting on your behalf
If you’re using the services of a solicitor, conveyancer, broker or other representative, you’ll need to give NAB their contact details and you’ll also need to provide authorisation for the representative to act on your behalf.