5 Myths about Care Home Fees and Funding

Reality: It’s a widespread belief that selling your home is the only way to cover care costs. In truth, your home is just one of the assets considered in the financial assessment. If you don’t want to sell your home or the home of a loved one, don’t worry. Many people use a combination of savings, pensions, and investments to pay for care without selling their property. There are also options like deferred payment agreements that allow you to delay selling your home until after you’ve passed away. If you own a property, the council will take this into consideration during the means testing process. As a family-run, family-focused business, we understand that selling a home may not be an option for you. That’s why we’re here to support you in understanding the fees and funding alternatives for your loved ones’ care.

Reality: Like every service, care home fees are subject to fee increases, due to factors such as an increase in care needs and inflation. If your local council is assisting with funding, you can be reassured that the amount they assist you with is subject to change upon review. This means that if your fees have to go up, then the council can review the amount they support you with to assist in increased costs. 

Reality: Many people worry that paying for care means giving up control of their assets. However, there are legal and financial planning options available that can help you protect your assets and plan for the future. Consulting with a financial advisor can provide valuable insights into managing your finances while ensuring you receive the care you need.