Owner tool
Mortgage position before selling
What a mortgaged owner needs to establish with the bank before a sale can complete.
Who this is for: Owners with finance outstanding on the unit.
The guidance below is general. Sign in and verify ownership to see this tool alongside your own unit's recorded details.
Step by step
- 1
Establish the outstanding liability
Ask your bank for a current settlement or liability figure for the unit, and for how long that figure remains valid.
- 2
Understand the release process
A mortgaged unit generally cannot transfer until the finance is settled and the bank releases its interest. Ask your bank what it requires, in what order, and what it issues at the end.
- 3
Ask about early settlement
Settling ahead of the agreed term may carry conditions or a charge. Ask the bank directly — we do not publish bank fees or terms.
- 4
Expect the bank in the transaction
Where a buyer is also financing, two banks and a valuation may be involved. This affects sequencing and timeline more than anything else in the sale.
- 5
Tell us the position early
Recording the mortgage position on your seller submission lets the specialist plan a realistic sequence instead of discovering it late.
Checklist
- Current outstanding liability and its validity date
- Early settlement conditions, if any
- What the bank requires before it will release
- What the bank issues on settlement, and to whom
- Whether the buyer is financing, and with which timeline
What TVD can help with
- Recording the position on your seller submission
- Planning a realistic sale sequence with a specialist
What must be completed elsewhere
- Every figure, condition and approval — these come from your bank
- Settlement and release
We give no bank-specific guidance, no rates, no fees and no timelines, and we cannot tell you whether finance will be approved for you or for a buyer.