The Funding for Care service offers those moving into care and their families considerable benefits:
Quick Advance of Funds
- Exchange and release funds in as little as 7 days
- Meet immediate financial needs
- Purchase immediate needs annuity or care fee insurance policy
Certainty
- Quick exchange means that sale will happen on time, at agreed price
- Equity released allows ongoing care requirements to be met
- Value of property and inheritance not at risk from market instability
- Cash released from property can be invested in an long term care annuity
Avoid hassle and stress of selling
- Considerable hassle, inconvenience and stress involved in selling
- Family doesn’t have responsibility for selling
- It could take many months, if not years to sell
- Vacant properties cause maintenance and security concerns that can be difficult to manage, especially if family live elsewhere
Cost Savings
- Estate Agents fees should be avoided
- No Solicitor fees relating to sale
- Home Information Pack (HIP) not required
- No ongoing maintenance costs
- No utility/council tax payments
Flexibility
- Service is flexible to meet your financial and personal requirements
See How We Have Helped Others...
Mrs. Smith moved into a nursing home costing £800 per week, which she could initially fund from her savings. But cash was rapidly running out.
Most of the capital was tied up in her home, but the family were unable to sell the property quickly to continue to fund the nursing care.
Funding for Care bought her property quickly at a guaranteed price, which released the much needed cash.
This enabled an annuity to be secured to fund the on-going care with surplus cash to provide a comfortable lifestyle.