A mortgage top up is managed by your Lender, but you must notify the FHS of your intention to top up.
A mortgage top up is a loan that allows you to borrow more money against the current value of your home to spend on things like improving your home.
Customers who have an equity facility with the FHS are allowed in all circumstances to apply for a mortgage top up with a Participating Lender subject to that lender’s mortgage top up criteria and application process.
You must notify the FHS of your intention to top up your mortgage with a Participating Lender, and the FHS must confirm that it does not object to the mortgage top up as a part of the mortgage top up application process.
You can notify the FHS of your intention to top up your mortgage by completing a Mortgage Top Up Notification form which can be accessed through the FHS customer portal and providing us with supporting documentation (if required).
Customers who have an equity facility with the FHS and want to switch and top up their mortgage, as part of the switching process, should see switching your mortgage for more information on the steps involved in this process.
FHS criteria for mortgage top ups
- The purpose of the mortgage top up must be for home improvements, medical, educational needs, cost overrun (Self-build) or to redeem (buy back) the equity share partially / in full
- Customers must retain a minimum of 10% equity interest in the property after the mortgage top up
Mortgage Top Up Notification
- Login to your FHS customer portal
Mortgage Top Up Notification form
- Download from the customer portal
- Tell us the Purpose of your top up
- Tell us the top up Amount
- Upload (or you can send to us by post)
Form and any required Supporting Documentation
- Property Valuation
- Annual Mortgage Statement
FHS assess top up purpose and your retained equity percentage post top up
- Receive FHS letter of No Objection or Objection to your mortgage top up notification
- Share letter with your Lender