on 11-02-2021 10:11 AM
Would it at all be possible for the banks to agree to a uniform discharge authority that could be accessed by vendor solicitors in the PEXA workspace, downloaded as a PDF so we can fill our details and the property details in and then forward to the vendor to complete details such as bank account, is the facility closing, etc? It is impossible to complete these online forms as a practitioner because you don't have, and don't want to have, all the client's bank details or arrangements with their lender. Is is possible for the bank to take the initiative and follow up with the vendor when the uniform DA is received - after all they can see all the banking facility on their system. Solicitors like to oversee the DA process so we know 1. that our firm details are correct or the bank won't talk to us; 2. the property details, such as title reference, is entered correctly, so that bank knows which property is being discharged; and 3. so we know it is being lodged and not relying on the vendor to go to their bank website and fill in a form that they won't understand half of what is being asked of them. This would certainly make life a lot easier. Perhaps the Uniform DA could trigger within the bank an email to the client to provide those other details such as bank account, closing facility or reduce by how much? Or is this simply too much to ask?
on 15-02-2021 08:59 AM
I second this suggestion.
If the banks can agree on a national mortgage form then a standard uniform discharge authority cannot be that difficult to create.
on 15-02-2021 01:39 PM
Agree @SarKlar and @GMW these are excellent suggestions and we have passed them onto the Banks. There are some encouraging innovations in this area; as you've noted in recent times some banks have moved their DAs online recognising the benefits of reducing reliance on paper processes and the increasing prevalence of digital mortgages (electronic documents signed digitally or through internet banking) might be seen as a precursor to further improvements to the discharge experience for all parties involved. Thanks and please continue to post your ideas, suggestions, concerns here as well as using the 'feedback' tab in the workspace.