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Paid In Full Letter From Lender

Paid In Full Letter From Lender Template for New Zealand

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Paid In Full Letter From Lender

"I need a Paid In Full Letter From Lender for a simple personal loan of NZD 25,000 that will be fully repaid on March 15, 2025, with no securities or guarantors involved."

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Document background
The Paid In Full Letter From Lender is a critical document issued upon the complete satisfaction of a loan or credit facility in New Zealand. It serves multiple purposes: confirming the borrower has fulfilled all payment obligations, releasing any securities or guarantees associated with the loan, and providing formal documentation for the borrower's records. This document is essential in New Zealand's lending landscape, where it must comply with various regulations including the Credit Contracts and Consumer Finance Act 2003, Property Law Act 2007, and Personal Property Securities Act 1999. The letter is typically issued after the final payment has been processed and all loan conditions have been met, providing the borrower with official confirmation that can be used for future financial dealings or property transactions.
Suggested Sections

1. Letter Header: Lender's letterhead, date, reference number, and recipient's details

2. Loan Identification: Clear identification of the loan account/facility including account numbers, original loan amount, and date of establishment

3. Payment Confirmation: Explicit statement confirming that the loan has been paid in full, including the date of final payment

4. Release Statement: Formal statement releasing the borrower from all obligations under the loan

5. Contact Information: Lender's contact details for any queries or further assistance needed

6. Authorized Signature: Signature block for authorized representative of the lender

Optional Sections

1. Security Release Confirmation: Required when the loan was secured - confirms release of any securities, mortgages, or charges

2. Guarantor Release: Required when there were guarantors - confirms release of guarantors from their obligations

3. Document Return Notice: Required when physical security documents exist - details which documents will be returned or destroyed

4. Registration Actions: Required for registered securities - confirms actions taken to remove PPSR registrations or mortgage discharges

5. Tax Statement: Optional section for including any relevant tax implications or statements

Suggested Schedules

1. Loan Account Statement: Final statement showing zero balance and all payments completed

2. Security Release Documents: Copies of official security release documents or mortgage discharge forms

3. PPSR Removal Confirmation: Proof of removal of any Personal Property Securities Register recordings

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓƵ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions















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Relevant Industries

Banking and Financial Services

Real Estate and Property

Consumer Finance

Commercial Lending

Mortgage Services

Asset Finance

Agricultural Finance

Construction Finance

Relevant Teams

Legal

Credit Administration

Loan Operations

Compliance

Risk Management

Collections

Customer Service

Mortgage Services

Document Management

Settlement

Relevant Roles

Loan Officer

Credit Manager

Collections Manager

Legal Counsel

Compliance Officer

Mortgage Specialist

Account Manager

Banking Operations Manager

Credit Administrator

Settlement Officer

Discharge Officer

Risk Manager

Industries





Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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