There are several reasons you might need to discharge your home loan:
If you’re moving your home loan to another bank or financial institution, you’ll need to discharge your current IMB mortgage. Your new lender will usually help with the process, but we’ll guide you through what’s required on our end.
Selling your home means paying out your existing loan as part of settlement. A discharge ensures the mortgage is removed from the property title once the loan is fully repaid.
Ready to pay out your home loan in full? Congratulations! Once your loan is completely repaid, we’ll help you discharge the mortgage and close the account. This ensures the property title is clear and your obligations with IMB are finalised.
A discharge form may be required If you have multiple properties linked on one loan and are looking to discharge one or more properties.
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Found a better deal elsewhere? Before you make the switch, talk to us first. At IMB, we value your membership and may be able to offer a competitive solution to meet your needs.
Our team can review your current loan and discuss options that could save you time and money without the hassle of moving to another lender. Call us on 133 462, visit a branch or enquire online.
Before you discharge your home loan, it’s important to understand any costs involved. These may include:
A standard fee for processing and releasing your mortgage.
If you’re on a fixed-rate loan, breaking the term early may incur additional charges.
Depending on your loan type and timing, there may be other costs to consider.
We recommend reviewing your loan terms or speaking with us directly so we can give you a clear breakdown of any fees.
Tip: Before you switch, talk to us - we may be able to offer a competitive solution that saves you time and money. Call us on 133 462, visit a branch or enquire online.
Contact IMB by calling 133 462, visiting your local branch, or completing our online discharge request form.
We’ll ask a few questions to understand why you’re discharging your loan. The more details you provide, the better we can guide you and ensure you receive the right form for your situation.
We’ll prepare a personalised discharge form for you. Each form is tailored to your request and sent directly to you.
Once you’ve completed and returned the form, IMB will work with your authorised representatives (such as your solicitor or new lender) to finalise the discharge.
Your loan will be discharged on settlement day. After that, IMB will close your account once any final interest and fees are processed.
Our team can review your current loan and discuss options that could save you time and money. Call us on 133 462, visit a branch or enquire online.
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