Selling your home

Should you be single or widowed, and need care, if you possess your own home, unless you are one of the very few who qualify for NHS funded continuous care, you will almost certainly have to fund your own care from capital , and for many this may entail having to sell your home.

Whilst there are some alternatives such as the Deferred Payment Scheme or renting out the property, either because of other capital exceeding the upper capital thresholds preventing a deferred Payment scheme, or the ongoing responsibilities and obligations of one of your family having to be a Landlord, it is often the case that it is better to sell the property , realise the capital and either invest it or buy an immediate needs annuity.

Managing the sale

However, either due to a slow market resulting in the property not selling fast enough to meet care fees and/or your family or Powers of Attorney being either very busy people or living far away, the job of perhaps preparing the house for sale, finding and appointing estate agents and solicitors and perhaps more importantly keeping in touch with them can become difficult and very time consuming.

This is why we have negotiated a special deal with one of only a few specialist companies who offer to act for your family of Power of Attorney in managing the sale for them relieving them of the burden of selling it at little more than the costs you would otherwise normally incur, such as estate agents and solicitors fees.

Bridging Finance

There is often nothing more worrying than once having agreed that the best plan is to buy an annuity, than you find the home doesn't sell and the care fees are rapidly using up all of the liquid cash available. This needn't be the case however.

Not only will this specialist firm, arrange the sale of the home but will at additional cost also offer to lend you money in advance of the sale (so called bridging finance) to allow you to buy the annuity immediately. Once sold the money advanced together with interest accrued is then deducted before you or your family/ Power of Attorney receive the balance.

If you would like further details of this scheme then pleasecontact us asking for details on bridging finance for care.