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Closing your home loan?

Follow our simple guide to help you through the process of closing your home loan.

Ready to get started? Talk to us on 13 11 55 or enquire online.

Enquire now

How do I close my home loan?

Closing your home loan is often a confusing and lengthy process. But don’t worry. Follow these simple steps to get your home loan closed  

  1. To start, please call us on 13 11 55 or visit one of our branches.

If you're considering changing your home loan to another bank, speak to our friendly team and we can work hard to help you get a loan that better meets your needs.

  1. During our conversation we can prepare a Home Loan Servicing Request form which we can send to you via email, post or via digital envelope with our partners Docusign.

Tip: We won’t accept discharge forms from other banks. If you’re considering changing your home loan to another bank, please contact us immediately and we can prepare a Home Loan Servicing Request form for you.

  1. Once you receive the Home Loan Servicing Request form, please check that all your details are correct.

If you receive the form via Docusign, simply acknowledge your digital signature with Docusign. Alternatively, if you receive the form via email or post, you can either post a signed copy back to us or visit your local branch to return the form.

So, what happens next? That depends on whether you’re selling your property, changing to another bank, or just paying out your loan.

Selling your property or changing to another bank

We can prepare the necessary documentation for the loan to be paid out.

If we have any questions, we can contact your solicitor (when selling your property), or the bank you’re changing to. Otherwise, they will contact us to book a settlement date.

Why is this step taking so long? Your solicitor or the bank you’re changing to are responsible for contacting us to organise a settlement date - this may be holding up the process. Please contact your solicitor or the bank you are changing to, prior to contacting us.

After settlement, we can close your home loan within 48 hours. If there are any surplus funds available to you, these will be deposited into the account as nominated in your Home Loan Servicing Request form. 

Paying out your loan

Suncorp can prepare the necessary documentation for the loan to be paid out.

If we have any questions, we’ll be in touch. If we don’t hear from you, we’ll follow up every seven days, and; if we have no response within 21 days, we can close the request.

Suncorp can close your home loan and contact the land title office in your state to organise removal of the mortgage from your title. This process can take up to 20 days from when we receive the request.

The land title office in your state will have its own timeframe for amending your title. Please check with your state’s land title office to understand these timeframes.

After changes have been finalised, if the land title office provides Suncorp with a copy of your updated title, we will send it to you. This usually takes 7-10 days. 

Please note that the following states no longer issue paper titles: QLD, NSW, ACT, WA and SA. VIC can issue electronic titles if you choose.

Banking products are issued by Suncorp-Metway Ltd ABN 66 010 831 722 AFSL No 229882 Australian Credit Licence 229882 (“Suncorp Bank”) to approved applicants only. Please read the relevant Product Information Document, Lending Fees and Charges and the Home Package Terms and Conditions before making a decision regarding any Suncorp Bank products. Fees, charges, terms and conditions apply and are available on request or on our Product Information Documents and Forms page.