On the day of discharge, the panel solicitors will request a payout figure. The offset will be de-linked from the home loan account four days prior to settlement and converted to a transaction account. This will happen automatically, without any request required. The offset account will not be frozen.
If the home loan account is under a company or trust name, the offset account will be closed. Customers will need to make sure they withdraw any available funds from the offset account to avoid any delays with the discharge.
When their home loan is discharged, any linked offset account(s) will be converted to transaction account(s). Their account number(s) and any debit card(s) won’t change.
