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FHSS Eligibility Criteria for Persons on Mortgage but Not on Title

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Newbie

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Am I eligble for the First Home Super Saver Scheme if my name is on an existing mortage but not on the title of the property?

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Community Support

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Hi @anon8

 

Thanks for your post.

 

You are eligible to request a first home super saver (FHSS) determination as long as you have never owned property in Australia (unless you have suffered financial hardship) and you haven't previously requested a FHSS release.

 

For more information about who is eligible for the FHSS scheme, have a look at our website.

 

If you sign a contract to purchase or construct a new home, you are required to notify us that you have signed the contract within 28 days. For more information about your requirements after your savings have been released, check out our website.

 

You will notice that you're not required to notify us within 28 days of signing your mortgage documents or being added to the title deed. The requirement is that you sign a contract to purchase or construct a home.

 

If your name is on the mortgage documents but you didn't sign a home purchase/construction contract, there is nothing to notify us of. The information on our website explains what your options are if you request a FHSS release but don't sign a contract within the required timeframes.

 

Hope this helps.

 

Thanks, ChrisR

1 REPLY 1
Highlighted

Best answer

Community Support

Replies 0

Hi @anon8

 

Thanks for your post.

 

You are eligible to request a first home super saver (FHSS) determination as long as you have never owned property in Australia (unless you have suffered financial hardship) and you haven't previously requested a FHSS release.

 

For more information about who is eligible for the FHSS scheme, have a look at our website.

 

If you sign a contract to purchase or construct a new home, you are required to notify us that you have signed the contract within 28 days. For more information about your requirements after your savings have been released, check out our website.

 

You will notice that you're not required to notify us within 28 days of signing your mortgage documents or being added to the title deed. The requirement is that you sign a contract to purchase or construct a home.

 

If your name is on the mortgage documents but you didn't sign a home purchase/construction contract, there is nothing to notify us of. The information on our website explains what your options are if you request a FHSS release but don't sign a contract within the required timeframes.

 

Hope this helps.

 

Thanks, ChrisR