Homeownership is a hard bar
Any homeownership rules you out of MAP. This applies even if the property is in negative equity, even if you own only a small share, and even if the property is very modest.
The rule is designed to keep MAP focused on people with genuinely minimal assets and simple financial situations.
Alternative routes for homeowners
Full Administration sequestration is available for homeowners. The Trustee will assess your beneficial interest and decide how to deal with any equity.
A Trust Deed is often the natural fit for homeowners with equity — the 48-month payment structure and equity release process handle homeownership more predictably than sequestration.
DAS can work if you can afford to repay debts in full over a reasonable period.
What if you have very little equity?
Homeowners with nil or negative equity often find Full Administration sequestration works well — the Trustee usually takes no action on the property and the reversion rule protects it after three years.
A Trust Deed is another option, though it commits you to 48 months of payments.