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Over 55 later life lending to pay for domiciliary or nursing care

Keep your independence and health in the comfort and familiarity of your own home with equity release

Whether you need domiciliary care to help you with everyday tasks, such as personal care or shopping, or at-home nursing care or live-in home care, equity release schemes could be an option to help you meet your care fees and maintain independence.
Over 55 equity release, as a Home Reversion, Lifetime Mortgage or Retirement Interest Only mortgage (RIO), can help you to fund these fees if no other financial options are available. This can help you get the support you need to be able to stay in the comfort of your own home.
The value of equity released can be paid in a lump sum, but choosing small and regular payments could help you manage your cash flow and reduce the interest that accrues on the mortgage – enabling you to pass on more of your estate to your loved ones.
Home care costs vary greatly by provider and geographical location, however homecare.co.uk advises that home care fees are currently on average between £20-£30 an hour, and calculates that two hours a day can be as much as £16,800 annually. Age UK has useful advice regarding financial support for which you may be eligible. We always carry out a benefits assessment to find out whether you are entitled to help with these costs.
If you’d like to find out more about how our tax-free equity release products can help to finance home care and nursing fees, book an initial, no-obligation consultation to speak to one of our specialist advisers today.

Over 55 later life lending to pay for domiciliary or nursing care

Keep your independence and health in the comfort and familiarity of your own home with equity release

Whether you need domiciliary care to help you with everyday tasks, such as personal care or shopping, or at-home nursing care or live-in home care, equity release schemes could be an option to help you meet your care fees and maintain independence.
Over 55 equity release, as a Home Reversion, Lifetime Mortgage or Retirement Interest Only mortgage (RIO), can help you to fund these fees if no other financial options are available. This can help you get the support you need to be able to stay in the comfort of your own home.
The value of equity released can be paid in a lump sum, but choosing small and regular payments could help you manage your cash flow and reduce the interest that accrues on the mortgage – enabling you to pass on more of your estate to your loved ones.
Home care costs vary greatly by provider and geographical location, however homecare.co.uk advises that home care fees are currently on average between £20-£30 an hour, and calculates that two hours a day can be as much as £16,800 annually. Age UK has useful advice regarding financial support for which you may be eligible. We always carry out a benefits assessment to find out whether you are entitled to help with these costs.
If you’d like to find out more about how our tax-free equity release products can help to finance home care and nursing fees, book an initial, no-obligation consultation to speak to one of our specialist advisers today.

“Our client had been in a care home for a short period of time and decided that she wanted to return home but lacked the finances for home care. By writing an equity release mortgage against her £1.2million home, she could afford to be looked after in the comfort of familiar surroundings. Rather than drawing down all the money at once, it was released in tranches every three months, keeping the interest to a minimum.”

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