Deferred payment arrangements
At UK Care Guide we understand that often the financial prospect of care can be daunting and difficult. That’s why we’ve compiled comprehensive articles on each method of paying for care to help you to make a sound decision.
Deferred payment schemes are offered by local authorities to help those without immediate access to care home funding to pay for their own care in a more flexible way. Effectively it delays the payment, with the money only due should you leave the residential home you are currently in or sell your home. Otherwise the repayment is due upon death. Deferred payment schemes aren’t suitable for everyone – and only certain individuals are eligible. In this article we explore deferred payment schemes in detail to help you to decide whether it’s an appropriate way for you to cover your care home costs.
For all the details on Deferred Payment, Equity Release, Renting out your Home and Paying with Savings UK Care Guide