Once a loan has been repaid by the debtor(s), the Standard Security will be discharged by the creditor. Similarly, if the debtor is moving house before the loan is completely paid off, the creditor will grant a Discharge of the Standard Security over the house being sold (after repayment of the loan from the proceeds of the sale).

The Discharge is normally recorded in order to clear the record of the Standard Security. The wording of a Discharge is laid down in Schedule 4, Form F of the Conveyancing and Feudal Reform (Scotland) Act 1970 and must contain the following parts:

(A) The debtor(s) and the creditor must be named and designed.

(B) The Discharge must contain an appropriate operative clause in the style “hereby discharge a Standard Security for all sums due and that may become due granted by the said debtor in favour of the creditor”.

The creditor does not have to be narrated in full in the operative clause e.g. Nationwide Building Society: “in our favour” is acceptable.

(D) The discharge must be probative. It must be validly executed by the Building Society or other lending institutions.

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