This site has been developed to assist Suncorp customers and their representatives in releasing security held against home/personal line of credit facilities (line of credit facilities include - Asset Lines, Professional Asset Lines and Overdrafts).
Currently a Security Release Authority Form is required if a customer is going to pay out a loan that requires a security to be released. Security Release forms will be split into the following.
*The Payout Release form is to be used only when the loans balance has been reduced to zero (without selling the property or re-financing or for personal loans secured over real property).
Please take care when completing these forms, as they are a legal document. Only correctly completed forms will be accepted
This document is interactive and will require basic details relating to the release. These details will be printed onto the Release form. Once printed, complete the remainder of the form, then sign and post or fax forms to Suncorp Releases (details below).
Why these forms are required?
These forms need to be signed by all parties including guarantors authorising Suncorp to release a security over a property(s). Obtaining an authority signed by all parties lets us know that they are aware of the transaction. The Bank is unable to release a security until the authority has been correctly completed.
Suncorp requires a minimum of 10 working days from receipt of a fully completed form to release a security over a loan or line of credit facility.
What information is required?
Refinance/Sold Authority
- Loan/Facility account number(s)
- Full name of all borrower(s)
- Settlement date
- Signed declaration by all parties to the loan
- Location for settlement
- Address of the property(s) to be released
- Contact details for the representative coordinating the settlement (name and day time telephone number)
- Forwarding address for correspondence after settlement
Please complete a Refinance/Sold Authority form containing the required information as a priority and return it by facsimile on (07) 3135 2754 or mail it to:
Retail Releases
IPC RE041
GPO Box 1453
BRISBANE QLD 4001
Payout Release Authority
- Full name of all borrower(s) and contact numbers
- Loan/facility account number(s)
- Address of security property to be released
- Name of Branch for collection of documents and who can collect the documents
- Signed declaration by all parties to the loan
Due to the requirement for a signed authority this form should not be emailed to Suncorp.
Suncorp is unable to process the request until all information is received. This may result in settlement being delayed.
When will you hear from Suncorp?
- Suncorp will confirm the settlement details by fax or letter within 2 working days of receipt of this form.
- For a Loan account(s) Suncorp will call you or your specified representative (eg. Legal Firm or Financial Institution) 2 working days prior to settlement to provide a payout figure and confirm the settlement details.
- If you have a Facility (Asset Line or Overdraft) the payout figure will be calculated on the morning of settlement and will be advised to you or your specified representative by phone at this time.
Other important information
- Suncorp requires a minimum of 10 working days from receipt of a fully completed form to release a security over a loan or line of credit facility.
- A fee applies to cover the Bank's costs in releasing security. If the Bank requires new or existing properties used as security to be valued, a Property Evaluation fee will also apply.
- Automatic transfers from Suncorp deposit accounts to Suncorp Loans will be cancelled automatically when the loan is paid out in full. If you have a periodic direct debit from another financial institution (eg. through your pay office) into your Suncorp Loan/Facility(s) account you must cancel this after settlement.
- Your personal information is collected, used and disclosed by Suncorp in accordance with Suncorp's Privacy Policy a copy of which can be found on the below "Privacy & Security' link.
