CBA, Subdivision and Discharge

[Kaz111]

Hi to all the Comm Bank smarties out there.

I have a CBA loan on a house (and large piece of land) in Victoria. Construction of 3 units is complete and the subdivision process is almost complete.

I have contracts of sale on 2 units and the original house (Yeah). As settlement of all 3 properties is 14 days after the registration of subdivision/issuing of titles, can I simply hand a discharge form to the CBA, or do they require the whole subdivision plans and give me consent to subdivide?

 

[Terry_w]

Hi to all the Comm Bank smarties out there.

I have a CBA loan on a house (and large piece of land) in Victoria. Construction of 3 units is complete and the subdivision process is almost complete.

I have contracts of sale on 2 units and the original house (Yeah). As settlement of all 3 properties is 14 days after the registration of subdivision/issuing of titles, can I simply hand a discharge form to the CBA, or do they require the whole subdivision plans and give me consent to subdivide?

You will be keeping one so CBA will need to organise valuations etc. You will need their consent and should seek it asap or you may not be able to settle on time.