ANZ sends an email to the practitioner providing them with documents relating to the registration of a mortgage, variation of mortgage or discharge on settlement. The email contains the name and title of the ANZ representative authorised to provide instructions to the practitioner, and includes an attached letter of instruction authorising the new mortgage, variation or discharge of the existing ANZ mortgage.
Discharge authorities received from ANZ’s SOLD service in this format can be relied upon as sufficient authority to act on their behalf.
To comply with the e-dealing document retention requirements, a copy of ANZ’s original email and letter of instruction must be retained by the practitioner who certifies the discharge. If the transaction is subsequently selected by LINZ for compliance review purposes, this documentation must be made available to the Registrar-General of Land as provided in section 30 of the Land Transfer Act 2017.
Mortgage, variation and discharge instructions from Kiwibank Home Loans, New Zealand Home Lending and AMP Home Loans are delivered to practitioners over the internet via propel-lc. When downloaded, the authority provides the name and position of the person authorised to give instructions on behalf of the lender.
Mortgage instructions received from propel-lc in this format can be relied upon as sufficient authority to register the specified instrument on behalf of the lender.
Please note that when requesting a replacement mortgage via propel-lc, the instruction provided to enable registration of the new mortgage may state that the existing mortgage will be discharged and replaced by the new mortgage. This is not authority and instruction from the lender to discharge the mortgage. Practitioners must also obtain the requisite authority and instruction to discharge the existing mortgage via propel-lc before registering the transaction.
Practitioners are also reminded to properly follow the instructions received from the lender, and to use appropriate checking systems to avoid clerical errors in mortgage authority and instruction forms. Errors to watch out for include incorrect mortgagor/mortgagee names, mortgage descriptions, priority amounts,unsigned forms and record of title reference/s.