Important information
- Requests for partial release of security must be assessed and approved prior to any action being taken.
- Applications cannot be assessed until all required information is received, including documentation from third parties such as solicitors, accountants, and banks.
- The standard processing time for variation requests is approximately 8 weeks.
- For matters relating to deceased estates, please complete the Notification of Death form, available on the Forms and Downloads page.
Submitting a variation request
- If you would like to submit your request through the RAA Portal, visit the Approved Assistance page, select the relevant loan, and click Submit Variation Request.
- For step-by-step instructions on submitting a variation request through the portal, refer to our Loan Information [Link] support page.
- If you prefer to complete a PDF form, download and fill out the form, then email the completed form and any supporting documentation to securities@raa.nsw.gov.au.
Frequently asked questions
Can I transfer an existing RAA loan held by a family member into my name?
No. Under current program guidelines, a change in borrower is not allowed. This includes transfers to family members, as such changes would affect the original loan eligibility.
Why doesn't the RAA allow intergenerational transfers where the borrower changes?
Intergenerational transfers involve a change in borrower, which alters the original loan conditions and eligibility. As such, they are not permitted under the program guidelines.
If the loan can’t be restructured or varied, what are my options?
If you need to restructure your facility, you’ll need to pay out or refinance the loan with another lender. Please refer to our Discharge Authority for details on how to proceed.
Can I change from a partnership to a company and keep my current RAA loan?
Possibly. Requests are reviewed on a case-by-case basis. As long as the underlying borrower or responsible parties remain the same, your request may be considered.
Can I change the security on my RAA loan?
It depends. Changes may be considered based on the loan type, the original purpose, and the security held. Any changes must still align with the original ownership structure and loan purpose. Each request is assessed individually.
What happens if I sell some of my land?
The RAA will assess whether the remaining security still supports the loan and whether the loan purpose remains intact. In some cases, you may be required to pay out the loan.
Examples
Example 1 - Restructure (eligible)
The current borrowers, Bob Smith and Jane Smith (operating as a partnership) have received advice from their accountant to transition to a company structure. They have since established a new company, ABC Pty Ltd, with both parties acting as joint directors. There is no change to the farming operation or the security arrangements. As the underlying parties and operational structure remain effectively unchanged, this may be considered an eligible restructure under the RAA’s program guidelines.
Example 2 - Material change (ineligible)
The current borrowers, Bob Smith and Jane Smith, have received advice from their accountant to transition to a company structure and wish to include their son in the business. Additionally, they intend to transfer ownership of certain properties to their son to take advantage of intergenerational transfer concessions. As this involves a change to the underlying parties and a potential shift in the farming operation, it constitutes a material change and would not be eligible under the RAA’s program guidelines.