Stand alone Discharge of Mortgage - NSW

[EllieSydney]

Hello

I've a standalone discharge of mortgage with paper CT. Do I need to use PEXA to settle or can I do it in the 'normal' paper manner?

Thanks 

[EllieSydney]

I found the answer and it is Yes. All discharge of mortgages have to be done through PEXA

[TJ]

Hey @EllieSydney,

Are you talking about a transfer including a discharge of mortgage? 

You can see in the Mandate FAQs Post the transactions that are mandated, if the transfer has a discharge attached it would not be required to be done electronically at this stage. 

[EllieSydney]

Hi 

Thanks for answering.

I've to Discharge the Mortgage on a Title with money provided by the Client that is all. 

t

[AJJones]

Hi, just wondering how your discharge of mortgage went through PEXA.  I have one currently where the loan was paid out long ago, so there is no financial transaction, only the lodging of the discharge of mortgage.  I started in PEXA, invited the bank (CBA), they accepted, then nothing happened.  A week or so later I conversationed them to see what was happening, and they asked me to put a settlement date in.  I replied that there was no settlement date as there is no money involved (client's account on the DA for bank to access rego fee etc).  Another week later, no reply.  I'm starting to think maybe PEXA is not the way to go??