A partial discharge occurs when you have more than one property securing your home loan facility and you want to release or sell one or more, leaving the facility open.
Your properties are secured against the entire home loan facility, not the individual home loan accounts.
You can check your account structure via Macquarie Online Banking or the Macquarie Mobile Banking app to confirm what your new individual account limits and balances will be after settlement.
A partial discharge is subject to a credit assessment. We’ll advise the amount required to partially payout the loan. In some circumstances you may be required to use full net sale proceeds to partially payout or reduce your loan balance.
If you’re also subdividing the property, this must occur first before the partial discharge can proceed. See Substituting the security request of your home loan.