Payout Figure Mistakes (2026): The 12 Things to Check Before You Refinance
Payout figure mistakes for business owners refinancing | Switchboard Finance
payout figure · refinance · discharge · timestamps · settlement · 2026 ·
Business Owners Finance Hub
Most “refi delays” aren’t credit policy. They’re admin physics: the wrong Payout Figure, a missing timestamp, a fee that wasn’t included, or a discharge that was never actually queued.
If you want the 60-second definition first, read: What Is a Payout Figure?. If you’re refinancing as part of a bigger restructure, this corridor is worth knowing: Fleet Refinance & Restructure: Cleaning Up Truck Loans in 2025.
Refinances are cleanest when the “asset lane” stays asset-led. If your file needs an asset facility (not a vague cash request), start with Low Doc Asset Finance. For the bigger “business owner” picture, start here: 11 Signs Your Business Is Ready for Asset Finance in 2025.
1) The “payout figure QA” rule (why approvals die at the finish line)
A payout figure is only “true” for a specific date/time window. If settlement lands outside that window, the lender recalculates, and you get a fresh number (and sometimes a fresh delay).
Your job before you lodge is simple: confirm the payout number is complete, time-stamped, and settlement-ready — so the refinance doesn’t stall at Settlement.
2) The 12-check table (copy/paste this into your refi notes)
Don’t overthink it. Run the checklist once, fix what’s missing, then lodge with a clean pack.
If the refinance is tied to switching structures (new vehicle, new lender, new term), this sibling corridor may also matter: Fleet Leasing vs Chattel Mortgage.
| # | What to check | What “good” looks like | What it prevents |
|---|---|---|---|
| 1 | Payout date + time window | Clearly states the date and “valid until” (or the exact quote time) | Re-issue + settlement slip |
| 2 | Account/contract identifier | Correct contract number + borrower entity (ABN/PTY LTD) matches your file | Wrong loan paid out |
| 3 | Per diem interest (daily interest) | Includes daily rate or explains how interest accrues past the quote date | “Short payout” at settlement |
| 4 | All fees line-items | Shows any admin/discharge/processing costs as separate line items | Hidden shortfall + rework |
| 5 | Residual/balloon amount | Residual (if applicable) is included and not listed as “estimated” | Unexpected gap on pay-out day |
| 6 | Arrears / overdue components | Any arrears are itemised (not buried in a lump total) | Surprise decline due to mismatch |
| 7 | Direct payment instructions | Clear BSB/account or settlement instructions provided in writing | Funds sent to wrong place |
| 8 | Discharge request status | Confirmation the discharge is received/queued (not “we’ll do it later”) | Approval but no settlement slot |
| 9 | Security release requirements | Any extra steps are stated (e.g., what’s needed to release security) | Last-minute “missing doc” |
| 10 | Settlement contact details | Named team/email/phone for settlement queries | Chasing ghosts on the day |
| 11 | GST treatment clarity (where relevant) | Whether the figure is GST-inclusive/exclusive is stated (or clearly N/A) | Mismatch between offers |
| 12 | “No surprises” reconciliation | Total matches your expectation after interest + fees (sanity check) | Shortfall + settlement delay |
3) The fast approval-time map (what you do first, second, third)
If you want speed, sequence matters. Most files lose 2–5 days because the payout/discharge steps start too late.
- Step 1: request payout figure + ask for validity window + settlement instructions
- Step 2: confirm discharge is received/queued (same day)
- Step 3: run the 12 checks + fix gaps before you lodge
- Step 4: lodge refinance with payout + discharge proof attached
4) The “clean refi pack” (what stops the back-and-forth)
The goal is to remove ambiguity: what’s being refinanced, what it pays out, and how settlement happens.
If your refinance is part of updating vehicles as well (new term, new lender, new structure), this sibling explainer is helpful context: Low Doc Vehicle Finance Guide.
- Payout figure: time-stamped, correct entity, complete line items
- Discharge confirmation: proof it’s received/queued (email confirmation is fine)
- One-line purpose: “Refinance to replace current facility and improve structure/cost” (keep it clean)
- Asset lane clarity: if it’s asset-led, keep it under Low Doc Asset Finance
Payout figure mistakes don’t “decline” files — they stall them. The fix is boring and fast: confirm validity window, include all fees/interest/residuals, and queue the discharge early so settlement doesn’t slip.
If you’re refinancing an asset facility, keep the story asset-led via Low Doc Asset Finance, and use the broader business-owner lens here: Business Owners Finance Hub.
FAQ
Because the number is time-sensitive and settlement-specific. If the figure is missing a validity window, interest/fees, or the discharge isn’t queued, settlement slips and the lender needs a reissued payout (and sometimes extra confirmation).
The payout date/time window (valid until) plus whether per-diem interest applies. That’s the difference between “settles as planned” and “needs reissue.”
If you want speed, start the discharge early and get proof it’s received/queued. Waiting until “approval” is how files lose days at the finish line.
Usually daily interest not accounted for, missing fee line-items, or the payout figure expiring before settlement. Do the sanity check: total should make sense after interest + fees.
It’s your “last-mile QA.” Get the payout and discharge steps clean early, then lodge a clear asset-led refinance. If the file is asset-led, keep it in the asset lane via Low Doc Asset Finance.
Disclaimer: This content is general information only and isn’t financial, legal, or tax advice.
