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Selling your home


If you are single or widowed, in need of residential care and own your own home, it is also inevitable that you will have to fund your own care from capital.  For many people, this may result in having to sell your home.

Whilst some people will be able to access alternatives such as renting out the property of entering into a Deferred Payment Arrangement with the Local Authority, these options are not available to everyone.

It may be that you have additional monies above the Upper Capital Threshold (£23,250 2017-2018) so you are unable to enter into a Deferred Payment Arrangement, or indeed your family would not be able to deal with the additional burden of letting your property and overseeing this as landlords.  Many people ultimately reach the decision that it would be best to sell the property and to either invest the proceeds to pay the fees or indeed purchase an Immediate Needs Annuity.

If you are considering this option, please contact us to ensure that you have explored all options.  If you wish to sell your property, we may be able to assist you as we have professional relationships with a number of Estate Agents and Conveyancers, all of which offer a competitive, trusted and efficient service.

Managing the Sale
We will also be happy to assist you with managing the sale of your property.  For many families, especially if they live far away or have little experience of these matters, the prospect of preparing the house for sale, finding and appointing Estate Agents and Solicitors and keeping in contact with them all can be very onerous and a heavy responsibility.

Therefore, for a competitive cost, we are happy to manage the sale of your property on your or your attorney’s behalf thereby relieving them of the associated burden.

Bridging Finance
We are also able to assist with the sourcing of bridging finance should this be needed. All too often, once you have decided to purchase the Immediate Needs Annuity, the sale of the home providing that capital can take longer than anticipated and the savings that may have been available are eroded quickly, which can cause additional stress and worry at an awkward time.

We will be happy to introduce you to specialist firms who provide bridging finance, who will offer to lend you money in advance of the sale to allow you to buy the annuity immediately.  Once the property is sold, the bridging loan monies - together with the interest accrued - are deducted from the sale proceeds before your family or attorney receives the balance.

If you would like further details of this scheme, which provides bridging finance for care, please contact us.

Mortgages on and Equity Released from your home will be secured against it.




 
 

 
     
     
 
  What Matters?  
  Later Life Matters Limited offer an Independent Care Advice service - we provide help and support in finding...  
  Long Term Care Matters  
  If you find that you may be facing the prospect of financing your own care, either in a Care Home or in your...  
  Care Fees Guide  
  All of our initial advice, including the personalised report, can be provided without any obligation whatsoever...  
  Equity Release Matters  
  British people over the age of 50 are estimated to have more than 750 million equity in their homes...