Redeeming your equity share

• If you wish to make a partial redemption against your equity share, this must be a minimum of 5% of the original equity amount. This minimum amount will not vary over the life of the equity facility
• Only two partial redemptions are permitted in any 12-month period. For self-builds, partial redemptions are not permitted until the build of your home is complete
• A valuation from an FHS Approved Valuer is required before a redemption quote can be provided or redemption payment can be accepted. The valuation is valid for 12 months
• From year six following drawdown of your FHS Equity Facility, if you are redeeming the equity share in full, all accrued unpaid service charges must also be paid in full

You can request a redemption quote through the FHS customer portal or by contacting the FHS contact centre on 0818 275 662.

The FHS allows for partial redemptions on your equity share. Up to two partial redemptions can be accepted in any 12-month period. For Self-builds, partial redemptions are not permitted until the build of your home is complete.

The following events require you to redeem the full equity share, as well as service charges that have accrued against the equity facility:

• the property is sold
• the property is no longer your Principal Private Residence
• you move or switch your mortgage to a non-Participating Lender
• if the Homeowner dies (or, in the case of joint applications, the last applicant dies)

The events above will be referred to as ’realisation events’ in your Customer Contract.

Before a redemption quote can be provided, a valuation report from an FHS Approved Valuer will need to be submitted. Information on how to go about doing this is available on our website.

Should you wish to proceed with a redemption payment, additionally (and in order to comply with anti-money laundering requirements) you must submit:

• proof of ID (valid for at least the next six months)
• proof of address (valid for at least the last six months)
• documentation to support your source of funds. This could be any/all of the following:
  • bank statements for 12 months to support savings
  • a letter from your parent or third-party if you are receiving a gift
  • a letter from your solicitor if you have recently received an inheritance
  • a Contract for Sale if you are in the process of selling your property
    proof of sale of an unencumbered asset
  • any other details that we may require as proof of funds

Yes. An up to date valuation from an FHS Approved Valuer is a mandatory requirement before proceeding with a redemption process.

You can arrange a valuation with an FHS Approved Valuer through the FHS customer portal.

The customer pays for the valuation. The cost of this valuation is payable before the FHS Approved Valuer completes the property inspection.

Yes. Property prices can go up and down. As the equity facility is linked to the value of your home, any change in property prices will affect any partial or final redemption amounts. If property prices increase/decrease over time, the percentage equity you have to redeem will remain the same but the € amount will increase/decrease.

The equity share percentage that the FHS has in your property is based on the purchase price/build cost of the property. If property prices increase, the percentage equity you have to redeem will remain the same but the € amount will increase.

Home Purchase (private development)

For example:

Property purchase in August 2022

Same property, valued in January 2025

Self-build(own-site)

For example:

Property built in September 2023

Same property valued January 2026

Please note: this example does not take service charges into account and assumes no partial redemptions have taken place since the equity share was provided.

If your property value falls, the percentage equity you have to redeem will remain the same but the € amount will decrease.

Home Purchase (private development)

For example:

Property purchase in August 2022

Same property, valued in January 2025

Self-build (own site)

For example:

Property built in September 2023

Same property, valued January 2026

Please note: this example does not take service charges into account and assumes no partial redemptions have taken place since the equity share was provided.

If you complete a material alteration to your property that increases its current market value, any such increase in value will be excluded from the market value of the property for valuation purposes.

Material alterations are defined as works that add additional living accommodation to the property, adapt the property to provide for access and use by a person with a disability, or upgrade the Building Energy Rating (‘BER’) of the property by two or more BER Ratings.

Examples of material alterations:

• any works to the property that require planning permission
• the addition of an extension or conservatory, which creates additional living accommodation
• the conversion of an attic space, garage, or basement which creates additional living accommodation
• changes to the internal property layout, such that the property is adapted to provide for access and use by a person with a disability such as:
  • access changes such as creating a ramp or widening doorways
  • installation of specially adapted kitchen units and worktops
  • installation of specially adapted bathrooms
• works carried out to upgrade the energy efficiency of the home, resulting in the BER rating of the property improving by two or more BER ratings

Contact the FHS. Our agents will provide information on how to arrange a second valuation on your property by another FHS Approved Valuer. The cost of this valuation will be shared 50:50 between you and the FHS.

If you do not accept the second valuation, you can request an expert review of the value of the property, the outcome of which will be binding on both parties. The cost of this review will be shared 50:50 between you and the FHS. 

The FHS can disagree with the valuation amount from a FHS approved valuer and seek a second valuation, the outcome of which supersedes the first valuation. In this case, the FHS will pay the cost of the second valuation. The FHS can also disagree with a second valuation amount and initiate an expert review, the outcome of which will be binding on both parties. The FHS will pay the cost of the expert review in these circumstances. 

Your solicitor will complete the necessary steps required to release the Inhibition.