The older person’s website, Independent Age, has put together a great guide to paying for Care Home fees, if you own a home. See below for details and link to the key information on their website:
Care home fees: how to pay if you own your home
If you’re moving into a care home permanently and own your home, you may be wondering whether you’ll need to sell it to pay for your care.
The answer depends on your circumstances. In some cases, the value of your home will not be included in the council’s financial assessment – for example, if your partner still lives there. If it is included, selling is not your only option. You may be able to delay the sale through a deferred payment agreement with your council or rent out your property to help cover the cost of care.
Factsheet: Property disregards and deferred payments
It’s important to know that giving away your home or other assets to avoid care fees is not allowed. You, or the person who you transferred assets to, could end up owing the council money.
Giving away assets when you need to pay for care | Independent Age
Read our factsheet to learn more about property disregards and deferred payment agreements, or visit our website for information on paying for residential care.
Do I have to sell my home to pay for residential care? | Independent Age
