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 (unless it is your final redemption payment, to complete the buyout of the equity share).
• Only two partial redemptions are permitted in any 12-month period.
• 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 will need a valid property valuation in order to make a redemption payment against your equity share.

Calculation of Redemption Amount - New Build and Tenant Home Purchase

• For New Build and Tenant Home purchase, your lender valuation is valid for 6 months post drawdown and therefore, the redemption amount will be your original drawdown amount. After 6 months, you will need to arrange an updated valuation from an FHS Approved Valuer if you wish to make a redemption. This valuation is valid for 12 months.

Calculation of Redemption Amount - Self-build

• If a full redemption is made pre completion and within the first 2 years after drawdown, the redemption amount will be your original drawdown amount.
• A property valuation from an FHS Approved Valuer is required for a redemption to be made 2 years or more after the drawdown (or post completion of the build, whichever is the earliest) of the equity facility.

If you wish to make a redemption (partial or full) we can provide you with a redemption quote (amount) outlining the impact of any redemption payment on your FHS Equity Share.

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, you are required to have a current property valuation for the FHS to calculate your redemption amount.

For the New Build or Tenant Home Purchase products, if you have owned your property for more than 6 months, you will need an updated valuation.
In the case of self-builds, an updated valuation is required if you are redeeming your equity share more than 24 months post FHS Equity drawdown (or post completion of the build, whichever is earlier).

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

1. Certified Proof of Identification - documents must be valid for at least the next 6 months.
2. Certified Proof of Address - documents must be dated within the last 6 months.
3. Documentation to support your source of funds. The specific documentation required will depend on your source of funds.

Please refer to the Redemption Request Form on your FHS customer portal for a list of acceptable certified documents and detailed requirements for source of funds documents.

New Build and Tenant Home Purchase

You are required to have a current property valuation for the FHS to calculate your redemption amount.

• A property valuation is not required if you are partially or fully redeeming your equity share within 6 months of drawdown.
• 6 months after drawdown, you will need an updated valuation in order to make a redemption. This valuation is then valid for 12 months from the date of the valuation.

Self-build

You are required to have a current property valuation for the FHS to calculate your redemption amount.

• A property valuation is not required if you are redeeming your facility in full before your property is complete once this is done within 24 months of receiving your funds from the FHS.
• An updated valuation is required if you are redeeming your equity share more than 24 months after drawdown.
• An updated valuation is required if you are redeeming your equity share post completion of the build.

You can arrange a valuation with an FHS Approved Valuer through the FHS customer portal or by contacting the FHS contact centre on 0818 275 662.

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

Contact the FHS. Our agents will provide information on how to arrange a second valuation on your property by another FHS Approved Valuer. The second valuation supersedes the first valuation. 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. 

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.

Yes. 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 purchased in August 2022

Same property, valued in January 2025

Therefore, the equity share amount for redemption (excluding any accrued service charge) will have increased by €5,000 based on the increased property value.

Self-build (own site)

For example:

Property built in September 2023

Same property valued January 2026

Therefore, the equity share amount for redemption (excluding any accrued service charge) will have increased by €3,750 based on the increased property value.
Please note: this example assumes no partial redemptions have taken place since the equity facility was drawn down.

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 purchased in August 2022

Same property, valued in January 2025

Therefore, the equity share amount for redemption (excluding any accrued service charge) will have decreased by €5,000 based on the decreased property value.

Self-build (own site)

For example:

Property built in September 2023

Same property, valued January 2026

Therefore, the equity share amount for redemption (excluding any accrued service charge) will have decreased by €3,750 based on the decreased property value.

Please note: this example assumes no partial redemptions have taken place since the equity facility was drawn down.

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 the purpose of calculating the amount you need to pay to the FHS in order to redeem the equity share.

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

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