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Releasing your Home Loan

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Payout or Release your Home Loan

Your home loan security is the asset (usually one or multiple properties) used to secure your loan with Citibank. There are many reasons you might be looking to change the way your existing home loan security is set up:

  • Selling your property
  • Refinancing your loan
  • Partial Security Release (releasing one of your properties)
  • Repaying your loan

To fully OR partially discharge your home loan, please follow these steps:

Note: Please read the “Things you need to know when releasing a security” section in the Security Release Request form as this contains important information about how we will process your request.

IMPORTANT INFORMATION

Things you should know

  • Complete all appropriate sections of the form in full (missing/incorrect details may result in delays).
  • We may need to contact you to verify your request, so please make sure your contact details are correct. Simply sign into Citibank online and click on the "My Profile" link to check and update.
  • Please allow at least ten days for processing your request. If you are requesting a partial discharge, please allow additional time as this may require a credit assessment and/or updated property valuations on the remaining securities.

SECURITY RELEASE REQUEST

What happens next?

  • We will start reviewing and actioning your request once we receive your completed Security Release Request.
  • Citibank and its Settlement Agent will provide regular status updates during the discharge process.
  • Fees and charges will apply. Please refer to https://www.citibank.com.au/aus/home_loans/pdf/fee_schedule.pdf for details of Citibank’s fees and charges.