Paying for your own care and support. Important information if you are paying for your own care and support needs or may need to in the future

Size: px
Start display at page:

Download "Paying for your own care and support. Important information if you are paying for your own care and support needs or may need to in the future"

Transcription

1 Paying for your own care and support Important information if you are paying for your own care and support needs or may need to in the future

2 Contents Page Paying for your care and support 3 What options are available to you for arranging care at home? 4 What options are available to you for arranging care in a care home? 5 What options are available to you to fund your care home fees? 6 Where can I get advice? 11 National advice 11 Local advice services 13 Independent financial advice 17 Where can I get independent financial advice? 18 What if I have a complaint about the financial advice? 19 2

3 Paying for your care and support Planning ahead and making decisions about care and support can sometimes be difficult. This booklet provides information to help you think about these decisions especially if you are already receiving care or may need to in the future. It will signpost you to organisations that can provide help and advice. Some advice is provided free of charge, although some organisations may charge for their services. The information contained in this booklet is intended as guidance only and does not constitute any endorsement of the organisations listed by the Council. If you are receiving care and support, you need to consider how that support is funded and if you qualify for financial support from the Council. In the following circumstances, you will be expected to fully fund your care services: If you are receiving care in a care home and you have over 23,250 in capital and/or savings. (The value of your home is counted as capital, after the first 12 weeks of your stay, when you are receiving long term care in a care home). If you are receiving care and support at home and you have over 23,250 in capital and/or savings. (The value of your home is not counted as capital, if you are receiving care at home). 3

4 If someone is living in your property, while you are receiving care in a care home, for example your spouse or partner or a dependent relative, then the value of your home may not be counted as capital. If your capital is below 23,250 you may be entitled to help with your care home fees from the Council. The Council can provide you with more information about who is regarded as a dependent relative and how this affects your entitlement to funding from the Council towards your care home fees. If you are funding your own care it is important that you receive good information and advice to help you make the most of your money, and to make good choices about your care. It is also important that you receive independent financial advice which is not provided by the Council or an advisor linked to an organisation which provides care services or a particular financial institution. This means that the advice that you receive is impartial. The information in this booklet will help you decide who to go to for that advice. What options are available to you for arranging care in your own home? If you need care and support to enable you to remain in your own home and you do not qualify for financial support from the Council towards your care costs, the following options are available to you: You can arrange the care and support yourself. There are local organisations who can help you with this (e.g. Ruils) and their details are included in this booklet. 4

5 You can ask the Council for help. You will be assessed to see if you have eligible care needs and if you do, we can arrange the care for you. There will be a charge of 50 per week for meeting these arrangements. You can choose care from one of the Council s contracted care providers or you can choose your own care provider and receive help with payroll and employment arrangements. The Council s Access Team can provide you with further details. Telephone: Text phone: What options are available to you for arranging care in a care home? If you need care in a care home and you do not qualify for financial support from the Council towards your care costs, the following options are available to you: You can ask the Council to assess your care needs. If you have eligible care needs but are not eligible for financial support from the Council, the Council will be able to provide you with details of suitable care homes. The Council s Access Team can provide you with further details. Telephone: Text phone:

6 What options are available to you to fund your care homes fees? 1. Using savings and/or income from investments or property There is an option to use your savings or investment income to fund your care and you should consider this, having taken independent financial advice. 2. Sale of property You may wish to sell your property to pay for your care home fees. There are also other options other than selling your property, such as equity release schemes or a deferred payment agreement. (See below) 3. Purchase a care fees plan A care fees plan requires a lump sum payment to an insurer who will then guarantee to cover residential and nursing fees for the rest of your life. Fees are paid directly by the insurer to the care home provider. You should seek advice from an Independent Financial Adviser regarding a care fees plan. 4. Equity release There are various types of equity release schemes on the market. These can include schemes where you take out a lifetime mortgage with the amount you have borrowed being paid back plus interest, upon death or sale of the property. There are also schemes where you sell a share of your property while remaining in the property. When you die or move into a care home, the property is sold and the equity provider receives their share from the sale. 6

7 The main features of equity release schemes are as follows: normally an arrangement fee will be charged interest will be charged and added to the loan your property is taken as security for a loan the loan will be repaid either upon death or sale of the property. You should seek advice from an Independent Financial Adviser regarding the different equity release schemes and the providers available. 5. Rental income from your property You could generate rental income from your property to help towards your care home fees. A family member could help you with arrangements for managing the tenancy. Alternatively, a letting agency could help you rent out your property. The letting agency can provide a number of services that includes the following: introductory service to help you find a tenant administration service e.g. taking up references on the tenant, drawing up a tenancy agreement and a schedule of conditions collecting the rent from tenants full management service for the property. 7

8 There will be fees payable to the letting agency for any service provided. It is important to choose a reputable letting agency, ideally one recommended to you by family or friends and to understand the fees they will charge and the level of service they will provide. There is advice about property rentals on the following government website: 6. Short term leasing scheme The Council has a scheme whereby it can enter into a lease agreement with you to use your property for people in need of housing, allowing you to generate rental income from your home to help towards your care home fees. This will also ensure your property remains occupied. During the period of the agreement the Council will: make payments to you manage the property for you return the vacated property to you at the end of the agreed time. We will need to speak to you or your representative to give you further details about the scheme and answer any questions you may have. If you decide the scheme is right for you, we will carry out an inspection of your property and see some safety certificates to make sure it is suitable before the lease can start. To find out more about the scheme contact: Telephone:

9 7. Empty property grant scheme Your property may be left empty, when you move into a care home. If you are leaving your property empty and it is in need of renovation, then you may be able to apply to the Council for a Renovation Grant, available to owners of vacant properties. The Empty Property Grant Scheme is open to anyone with a property that has been vacant for a minimum six month period, who will offer the property (once repaired) to the Short Term Leasing Scheme for a minimum period of five years. The maximum grant is 25,000 per unit. For more information about grants, please contact: Telephone: /

10 8. Deferred payment The Council has a Deferred Payment Scheme which means that those who are eligible can delay paying part of their care home fees during their lifetime or until they have sold their property. The Council will enter into a deferred payment agreement, using the value of your main home as security. Those who qualify for a deferred payment will not have to sell their home during their lifetime. An arrangement fee and interest charges are applied. For more information about deferred payments, please contact: Telephone: These are the main options available to you if you are funding your own care, although there may be other options or financial products which may be more appropriate for you. It is recommended that you contact an Independent Financial Adviser to determine the best options for your particular circumstances. 10

11 Where can I get advice? 1. National Advice There are many national organisations which provide advice on care and support, which include: Age UK Age UK provides information and factsheets on a variety of subjects including paying for care and support at home; finding care home accommodation; planning for retirement etc. These can be accessed online using the following link and then searching for factsheets. Web: SOLLA The Society of Later Life Advisers is a not-for-profit organisation. It provides financial products and services to the later life market. Their aim is to ensure that consumers are better informed about the financial issues of later life and can find a fully accredited adviser quickly and easily. They do not provide financial advice themselves but they can help you find trusted accredited financial advisers who understand financial needs in later life. 11

12 Gov.uk This Government website provides information from all government departments, including policies, announcements, publications, statistics and consultations. It also includes financial information that may help you. Web: The Money Advice Service This is a Government website that has been set up to provide free and impartial money advice in many areas. There is a section for care and disability that includes care advice and help and paying for care. Web: Pension Wise This is a free and impartial Government service which helps you understand your pension options. Web: 12

13 2. Local Advice Services Voluntary Organisations There are many local and national voluntary organisations which provide information and advice. Richmond Citizens Advice Bureau (CAB) Richmond Citizens Advice Bureau provides free, confidential, impartial advice to everybody. It helps people with the issues that are important to them, whatever the problem, they are there to help. It is able to give free impartial Money Advice on how best to manage all aspects of your personal finances; including your entitlements under the Care Act and paying for your care. Telephone: Web: 13

14 Richmond AID Richmond AID is a charity run by and for disabled people in the London Borough of Richmond upon Thames and surrounding areas. It supports people of all ages with disabilities, including physical and sensory impairments, mental health issues and learning disabilities. Their aim is to support disabled people to live independent lives and to have the same opportunities as non-disabled people. The charity provides disabled people and their families and carers with a range of services from welfare benefits advice, help with employment and training, garden service (SPADE) to their Advice Service including general advice and information on how to pay for your care. Advice Line: Web: GoLocal GoLocal provides information about local services, activities and events. It offers opportunities and support for people to participate in local activities across Twickenham, Whitton, Barnes, Mortlake and East Sheen. Telephone: Web: #GoLocal 14

15 The Community Partnership The Community Partnership provides information about local services, activities and events. It offers opportunities and support for people to participate in local activities across Teddington, The Hamptons, Richmond, Kew, Ham and Petersham. Telephone: Web: 15

16 Ruils Ruils is a local, user-led charity supporting individuals (irrespective of age, impairment, health condition or capacity) to live independently at home and in their community. It provides a range of services from information, advice and advocacy to a befriending service where volunteers visit and support individuals at home. Ruils can help you if you are starting to think about getting help for your daily life and are funding your own care. Ruils services include researching, helping you choose and set up support with services tailored to you. For information on packages and pricing call their Independent Living Advisor. Telephone: Age UK Richmond Age UK Richmond is an independent charity working across the borough to improve the quality of life for older people. They offer a wide range of services including a telephone helpline, handyperson service and social centres in Barnes, Twickenham and Whitton. Telephone:

17 Independent Financial Advice Throughout your life you are likely to need different financial products. A financial adviser can help you make the right decision about the best product for you, but the advice is not free. There are two types of financial advice you can get, independent or restricted: Independent financial advisers (IFAs): If an adviser is independent or a firm advertises that it gives independent advice this means that it is able to advise and sell products from any provider across the market. Therefore you should get the very best advice and products tailored just for you. Restricted advisers: If an adviser or firm is restricted it can only recommend certain products or product providers to you. The adviser should clearly be able to explain the nature of the restriction to you, but if you are not sure then it is best to ask. To be classed as an independent financial adviser, an adviser needs to: offer a broad range of investment products give consumers unbiased and unrestricted advice based on their comprehensive and fair analysis of the relevant market tell consumers, before advising them, that they are an independent adviser. 17

18 Where can I get independent financial advice? SOLLA The Society of Later Life Advisers (SOLLA) has a find an adviser webpage. You can find an independent financial adviser who is suitably qualified to provide later life advice via the website: Financial Conduct Authority The Financial Conduct Authority (FCA) regulates over 50,000 businesses and is accountable to the Treasury, although independent from government. Its aim is to enable consumers to get a good deal. The FCA maintains a register of firms or individuals it has authorised to do business, carry out regulated activities or provide products or services. You can search the FCA register at: 18

19 What if I have a complaint about the financial advice? Financial Ombudsman Service If you are unhappy with any financial advice you have received from an IFA, you can make a complaint direct to the company. If they have not responded within eight weeks or you are still unhappy then you can contact the Financial Ombudsman Service. They have been set up by parliament to sort out individual complaints that consumers and financial businesses aren t able to resolve themselves and their service is free. You can ring them Monday to Friday (8am to 8pm) or Saturday mornings: Telephone: or You can also make a complaint online via their website. Web: Disclaimer: The information contained in this booklet is intended as guidance only and the London Borough of Richmond upon Thames cannot accept any responsibility for any financial loss arising from the use of information contained in this booklet. If you are fully paying for your own care, it is recommended that you seek independent financial advice and in certain circumstances, such as when you are using your property as security, independent legal advice. 19

20 How to contact the Access Team Telephone: Textphone: Website: Where to find us Adult and Community Services Civic Centre 44 York Street Twickenham TW1 3BZ Our offices are open Monday to Thursday from 9am to 5.15pm and on Friday from 9am to 5pm. If you have difficulty understanding this publication and you would like this leaflet in a different language, large print, or Braille please call Ref: 167/03/16

What is the Deferred Payments Scheme? Help with paying for your care

What is the Deferred Payments Scheme? Help with paying for your care What is the Deferred Payments Scheme? Help with paying for your care The Deferred Payment Scheme can help you pay for your care home fees, if you own your home and cannot afford to pay the full fee, as

More information

Deferred payments for people in permanent residential care

Deferred payments for people in permanent residential care Money and legal matters Deferred payments for people in permanent residential care Deferred payment agreements scheme - Information for residents 2 Deferred payment agreements scheme Contents Introduction

More information

The Deferred Payments Scheme. An information leaflet for home owners, paying for residential or nursing home care

The Deferred Payments Scheme. An information leaflet for home owners, paying for residential or nursing home care The Deferred Payments Scheme An information leaflet for home owners, paying for residential or nursing home care What is the Deferred Payment Scheme? The deferred payment scheme is designed to help if

More information

Commissioned by. Written by. Supported by

Commissioned by. Written by. Supported by Use of Housing Equity for Beginners A self training module Commissioned by Written by Supported by About this training module This self training module is for people who want to understand the basic ideas

More information

Paying for care: information and advice

Paying for care: information and advice Draft: for sharing in September 2015 Paying for care: information and advice Helping you to make informed choices about paying for care Is this leaflet for you? Many people don t know that unlike the NHS,

More information

Deferred Payments Scheme Guidance Notes for residents, relatives and carers

Deferred Payments Scheme Guidance Notes for residents, relatives and carers Royal Borough of Windsor and Maidenhead Deferred Payments Scheme Guidance Notes for residents, relatives and carers What you need to know June 2015 Windsor, Ascot and Maidenhead What is the Deferred Payments

More information

Deferred Payment Agreement Scheme

Deferred Payment Agreement Scheme Adult Social Care and Health Deferred Payment Agreement Scheme Information about the Council s Deferred Payment Agreement Scheme an option to help you manage care home costs if you own your property www.reading.gov.uk/carecharges

More information

Paying for your own residential care

Paying for your own residential care Paying for your own residential care June 2015 Page 1 Contents How will I know whether my needs have to be met by residential care?... 3 How do I find a home?... 3 How much will I have to pay towards the

More information

Paying for care homes

Paying for care homes Choosing and paying for care Paying for care homes a guide to paying for residential or nursing home care Adult social care About this booklet This booklet explains about the financial arrangements (who

More information

Deferred Payment Scheme Information Leaflet

Deferred Payment Scheme Information Leaflet Deferred Payment Scheme Information Leaflet What is the Deferred Payments Scheme? The Deferred Payments Scheme is designed to help you if you have been assessed as having to pay the full cost of your residential

More information

Deferred Payment Scheme. This leaflet gives a guide to Derbyshire County Council s Deferred Payment Scheme

Deferred Payment Scheme. This leaflet gives a guide to Derbyshire County Council s Deferred Payment Scheme Deferred Payment Scheme This leaflet gives a guide to Derbyshire County Council s Deferred Payment Scheme Contents What is the Deferred Payment Scheme? Page 3 To apply for a Deferred Payment you must...

More information

People moving into a care home who have a property Information sheet D4 April 2016

People moving into a care home who have a property Information sheet D4 April 2016 People moving into a care home who have a property Information sheet D4 April 2016 This information sheet explains your rights as a homeowner if you are moving into a care home with financial support from

More information

Deferred Payment Scheme Information and guidance 2015/16

Deferred Payment Scheme Information and guidance 2015/16 Deferred Payment Scheme Information and guidance 2015/16 What is the Deferred Payment Scheme? The Deferred Payment Scheme is designed to prevent people from having to sell their home, in their lifetime,

More information

Finding Financial Advice and Information About Care and Support

Finding Financial Advice and Information About Care and Support Finding Financial Advice and Information About Care and Support Financial advice and information is intended to help you make informed choices about your finances and help with planning your care. Adult

More information

Kent County Council. Charging for. Residential care. April 2016 edition 1.

Kent County Council. Charging for. Residential care. April 2016 edition 1. Kent County Council Charging for Residential care April 2016 edition 1 www.kent.gov.uk/careandsupport About this booklet This booklet contains information about how Kent County Council (KCC) works out

More information

Equity release. Money matters. Deciding whether equity release is right for you. AgeUKIL6

Equity release. Money matters. Deciding whether equity release is right for you. AgeUKIL6 Equity release Deciding whether equity release is right for you Money matters AgeUKIL6 Information and advice you need to help you love later life. We re Age UK and our goal is to enable older people across

More information

Deferred payment agreements April 2015

Deferred payment agreements April 2015 Deferred payment agreements April 2015 This leaflet explains how a deferred payment agreement may help you when you move to a care home What is a deferred payment? A deferred payment is when the council

More information

A Guide to Releasing Capital from your Home

A Guide to Releasing Capital from your Home Advice for older people A Guide to Releasing Capital from your Home Advice provided by Advice for older people FirstStop Advice brings together the expertise of some of the most trusted and respected organisations

More information

1 Don t ignore the problem

1 Don t ignore the problem Sometimes when your circumstances change, for example you work fewer hours, become sick, separate/ divorce, receive a cut in your pay, lose your job or have high bills to pay, life seems impossible. Don

More information

A Guide to Self-Funding Adult Social Care and Support Services

A Guide to Self-Funding Adult Social Care and Support Services A Guide to Self-Funding Adult Social Care and Support Services Contents A Guide to Self-Funding Adult Social Care and Support Services 1 What is a self-funder? 2 How much money can you have before you

More information

Paying for your Care in a Home The Council s Deferred Payment Scheme. Introduction

Paying for your Care in a Home The Council s Deferred Payment Scheme. Introduction Paying for your Care in a Home The Council s Deferred Payment Scheme Introduction Our leaflet A Guide to entering a care home explains how you can ask the Council to help you with the cost of your care

More information

Finding Financial Advice and Information About Care and Support

Finding Financial Advice and Information About Care and Support Finding Financial Advice and Information About Care and Support Financial advice and information is intended to help you make informed choices about your finances and help with planning your care. Adult

More information

Deferred Payment Agreement Factsheet

Deferred Payment Agreement Factsheet Deferred Payment Agreement Factsheet What is a Deferred Payment Agreement? Deferred Payment Agreements are designed to help you if you have been assessed as having to pay the full cost of your residential

More information

Our Home Reversion Plan. Enjoy your retirement by unlocking the value of your home

Our Home Reversion Plan. Enjoy your retirement by unlocking the value of your home Our Home Reversion Plan Enjoy your retirement by unlocking the value of your home I can now have the garden I ve always wanted. 1 Bridgewater Equity Release Limited the Home Reversion Plan experts Bridgewater

More information

what to consider before deciding on a particular scheme

what to consider before deciding on a particular scheme Factsheet 65 May 2014 About this factsheet This factsheet provides information about different types of equity release schemes such as lifetime mortgages and home reversion schemes. It includes information

More information

Equity release using your home to get a cash sum

Equity release using your home to get a cash sum Equity release using your home to get a cash sum for independent information About us We are an independent watchdog set up by the Government to: regulate firms that provide financial services; and help

More information

Printed for the Scottish Government by RR Donnelly B55529 03/08

Printed for the Scottish Government by RR Donnelly B55529 03/08 THINKING ABOUT care MOVING INTO A home? THINKING ABOUT care MOVING INTO A home? Crown copyright 2005 ISBN 0 7559 4472 0 Scottish Government St Andrew s House Edinburgh EH1 3DG Printed for the Scottish

More information

are you in danger of losing your home?

are you in danger of losing your home? are you in danger of losing your home? Mortgage to Rent Scheme help is at hand... We want to make it as easy as possible for you to get information about Mortgage to Rent. You can ask for this document

More information

Paying for Adult Social Care services in Leeds

Paying for Adult Social Care services in Leeds Paying for Adult Social Care services in Leeds Financial information from April 2015 Introduction From April 2015 the way that care and support is provided is changing for the better. The Care Act 2014

More information

The Personal Range Key Features of the Individual Personal Pension Transfer Value Account

The Personal Range Key Features of the Individual Personal Pension Transfer Value Account The Personal Range Key Features of the Individual Personal Pension Transfer Value Account Reference MPEN11/F 07.15 The Financial Conduct Authority is a financial services regulator. It requires us, Friends

More information

Care Homes for Older People

Care Homes for Older People Care Homes for Older People in Richmond upon Thames This leaflet provides details of residential and nursing homes available to older people in the wider Richmond upon Thames area. Valid as at April 2015

More information

Deferred Payment Agreements

Deferred Payment Agreements Deferred Payment Agreements Paying for your Care in a Home Barnet Council s Deferred Payment Scheme What is a Deferred Payment Agreement? A Deferred Payment Agreement is an arrangement with the Council

More information

Information on the Council s Deferred Payments Scheme

Information on the Council s Deferred Payments Scheme Information on the Council s Deferred Payments Scheme What is the Deferred Payments Scheme? The Deferred Payments Scheme is designed to help you if you have been assessed as having to pay the full cost

More information

Paying for residential and nursing home care if you own property

Paying for residential and nursing home care if you own property M ay 20 15 Paying for residential and nursing home care if you own property If you need help understanding this leaflet, an interpreting service is available. Please phone Stockport Interpreting Unit on

More information

Financial Information Guide: Residential / Nursing

Financial Information Guide: Residential / Nursing Financial Information Guide: Residential / Nursing Financial Information Guide for people going into a care home, or care home with nursing on a permanent basis 2015/2016 This booklet explains: 1. About

More information

Careers in Adult and Community Services

Careers in Adult and Community Services Careers in Adult and Community Services www.richmond.gov.uk Tel 0845 6122 660 Fax 020 8891 7713 1 1,LONDON BOROUGH OF, Contents Letter of Introduction... 3 Cathy Kerr, Director of Adult and Community Services

More information

Paying for a care home Will I have to sell my home?

Paying for a care home Will I have to sell my home? Paying for a care home Will I have to sell my home? www.brent.gov.uk Information for those considering residential or nursing care Revised April 2010 Who is this booklet for? This booklet is to help adults

More information

factsheet Deferred payments adult care and support Introduction Sheffield City Council Adult Care and Support Service

factsheet Deferred payments adult care and support Introduction Sheffield City Council Adult Care and Support Service Sheffield City Council Adult Care and Support Service Deferred payments adult care and support factsheet Deferred payments allow people who own their own home to use the value of their property to defer

More information

Deferred Payment Agreement (DPA) Fact Sheet

Deferred Payment Agreement (DPA) Fact Sheet Deferred Payment Agreement (DPA) Fact Sheet From April 2015, all councils in England are required to provide a Deferred Payment scheme for local residents. This will apply to anyone who owns a property

More information

Our House. How to place a property in trust for someone with a learning disability. Trust Company

Our House. How to place a property in trust for someone with a learning disability. Trust Company Our House How to place a property in trust for someone with a learning disability Trust Company Mencap Trust Company Limited and Golden Lane Housing are working together to provide a service that helps

More information

DEFERRED PAYMENT AGREEMENT. Information Pack for our service users and their families or representatives

DEFERRED PAYMENT AGREEMENT. Information Pack for our service users and their families or representatives 12 WEEK PROPERTY DISREGARD PERIOD AND THE DEFERRED PAYMENT AGREEMENT Information Pack for our service users and their families or representatives What is the 12 week Property Disregard Period? The Council

More information

Information on: Deferred Payment Scheme

Information on: Deferred Payment Scheme Information on: Deferred Payment Scheme From 1 April 2015 Introduction From April 2015 the way care and support is provided is changing for the better. The Care Act 2014 is a recent piece of legislation

More information

North Yorkshire Local Assistance Fund Other forms of support

North Yorkshire Local Assistance Fund Other forms of support North Yorkshire Local Assistance Fund Other forms of support Central Services North Yorkshire County Council Central Services Contents Page Financial Help 3 Housing 4 Help with Utilities 5 Furniture 6

More information

www.westsussex.gov.uk/social-care-and-health Deferred payments What do I need to know?

www.westsussex.gov.uk/social-care-and-health Deferred payments What do I need to know? www.westsussex.gov.uk/social-care-and-health Deferred payments What do I need to know? www.westsussex.gov.uk/social-care-and-health What is a deferred payment agreement? A deferred payment agreement is

More information

Disability and Carers Service. Customer Information

Disability and Carers Service. Customer Information Disability and Carers Service Customer Information 2 Disability and Carers Service - Customer Information Contents 3 Introduction 3 What we aim to do 4 What we would like you to do 5 Changes you must tell

More information

largeequityrelease.com EQUITY RELEASE GUIDE Speak to one of our specialists today on 020 3824 0904

largeequityrelease.com EQUITY RELEASE GUIDE Speak to one of our specialists today on 020 3824 0904 largeequityrelease.com EQUITY RELEASE GUIDE Speak to one of our specialists today on 020 3824 0904 CONTENTS What is equity release?... 3 How much money could I raise through an equity release?... 4 What

More information

Housing Adaptations The key to independent living for older people

Housing Adaptations The key to independent living for older people Housing Adaptations The key to independent living for older people About this Information Information for Older People needing help with Housing Repairs and Adaptations This e-leaflet is intended to provide

More information

Key Features of the NHS Additional Voluntary Contributions (AVC) Scheme

Key Features of the NHS Additional Voluntary Contributions (AVC) Scheme Key Features of the NHS Additional Voluntary Contributions (AVC) Scheme Important information you need to read The Financial Conduct Authority is a financial services regulator. It requires us, Prudential,

More information

Chadwick s. Equity Release

Chadwick s. Equity Release c Independent Chadwick s Financial Advisers Equity Release Contents Chadwick s IFA Page 4 Equity Release Page 5 Lifetime Mortgages Page 6 Home Reversion Schemes Page 7 Considerations Pages 8&9 Safe Guards

More information

Use your home to your advantage. A guide to equity release

Use your home to your advantage. A guide to equity release Use your home to your advantage A guide to equity release 2 A guide to equity release Introducing Retirement Advantage Previously known as MGM Advantage and Stonehaven, we are a wellestablished company

More information

Are you worried about your mortgage? If you are struggling to pay your mortgage, act now to stop your situation becoming worse

Are you worried about your mortgage? If you are struggling to pay your mortgage, act now to stop your situation becoming worse Are you worried about your mortgage? Get advice now If you are struggling to pay your mortgage, act now to stop your situation becoming worse Funded by the Northern Ireland Executive, delivered through

More information

Deferred Payments. A guide to. Paying for residential care if you own your home

Deferred Payments. A guide to. Paying for residential care if you own your home Deferred Payments A guide to Paying for residential care if you own your home What is the deferred payment scheme? If you are a home owner moving to residential care this scheme is designed to assist you

More information

Wiltshire Council PAYING FOR RESIDENTIAL OR NURSING CARE WHERE PEOPLE OWN THEIR PROPERTY INTERIM ADVICE PENDING NEW POLICY

Wiltshire Council PAYING FOR RESIDENTIAL OR NURSING CARE WHERE PEOPLE OWN THEIR PROPERTY INTERIM ADVICE PENDING NEW POLICY Wiltshire Council PAYING FOR RESIDENTIAL OR NURSING CARE WHERE PEOPLE OWN THEIR PROPERTY INTERIM ADVICE PENDING NEW POLICY 2015 2016 Please note, this is interim guidance pending changes to the Councils

More information

Problems paying your mortgage

Problems paying your mortgage Problems paying your mortgage What you need to do now and how to get back on track Steps to take now What your options are Get free impartial advice The Money Advice Service is independent and set up by

More information

Housing & Council Tax Benefit A Landlord s Guide

Housing & Council Tax Benefit A Landlord s Guide Housing & Council Tax Benefit North Yorkshire Training Group Benefits Leaflet also available in large print Contents: Part 1 - About this booklet Part 2 - What is Housing Benefit and Council Tax Benefit

More information

Approaching retirement

Approaching retirement A guide to tax and National Insurance contributions IR121 Contents Introduction Retiring early National Insurance contributions 1 Get a state pension forecast 2 Income tax 2 Claiming your State Pension

More information

Important information. Key Features of the Guaranteed Pension Annuity

Important information. Key Features of the Guaranteed Pension Annuity Important information Key Features of the Guaranteed Pension Annuity Important information The Financial Conduct Authority is a financial services regulator. Prudential is required to give you the important

More information

Deferred Payments. People & Communities. What is a Deferred Payment? Your agreement with us

Deferred Payments. People & Communities. What is a Deferred Payment? Your agreement with us Deferred Payments People & Communities What is a Deferred Payment? A Deferred Payment is designed to help you, if you have to pay the full cost of your residential care, but cannot afford to pay the full

More information

Last reviewed: September 2015 Next review date: April 2016

Last reviewed: September 2015 Next review date: April 2016 Factsheet Pension Credit About four million older people are entitled to receive Pension Credit to top up their retirement income, yet just under half of those eligible are not claiming it, or are not

More information

Information for people in residential care with property

Information for people in residential care with property Information for people in residential care with property If you are assessed as eligible for permanent residential care and you have a property and your other capital is valued at less than 23,250 the

More information

Home Purchase Plan Premier. Product information. alrayanbank.co.uk

Home Purchase Plan Premier. Product information. alrayanbank.co.uk Home Purchase Plan Premier Product information alrayanbank.co.uk Understanding your needs The Home Purchase Plan Premier (HPPP) from Al Rayan Bank (formerly Islamic Bank of Britain, IBB) helps you buy

More information

Wills, Lasting Power of Attorney etc etc

Wills, Lasting Power of Attorney etc etc Wills, Lasting Power of Attorney etc etc Martyn Burgess Independent Financial Advisor In Association with John Emptage of Bright Solicitors Welcome Welcome to Leech & Burgess IFA LLP Independent Financial

More information

Housing options for single parents

Housing options for single parents Formed from the merger of the National Council for One Parent Families and Gingerbread Factsheet For single parents in England and Wales February 2012 Freephone 0808 802 0925 Gingerbread Single Parent

More information

What is the Deferred Payments Scheme?

What is the Deferred Payments Scheme? What is the Deferred Payments Scheme? The Deferred Payments Scheme is designed to help you if you have been assessed as having to pay the full cost of your residential care but cannot afford to pay the

More information

Our fees and charges explained

Our fees and charges explained Our fees and charges explained and other important information about how your mortgage works June 2015 What s in this booklet Keeping you informed 3 Application and valuation fees 3 Application fees 3

More information

A guide to Deferred Payments

A guide to Deferred Payments A guide to Deferred Payments Paying for residential care or nursing care if you own your home What is the deferred payment scheme? If you are a home owner moving to residential or nursing care, this scheme

More information

Home Purchase Plan. Product information. alrayanbank.co.uk

Home Purchase Plan. Product information. alrayanbank.co.uk Home Purchase Plan Product information alrayanbank.co.uk Sharia compliant, flexible, aordable home finance Unlike a conventional mortgage where the purchaser borrows money from a lender which is then repaid

More information

Equity release schemes. Raising money from your home

Equity release schemes. Raising money from your home Equity release schemes Raising money from your home The Money Advice Service is here to help you manage your money better. We provide clear, unbiased advice to help you make informed choices. We try to

More information

Deferred Payment Scheme: Frequently Asked Questions

Deferred Payment Scheme: Frequently Asked Questions Deferred Payment Scheme: Frequently Asked Questions What is a deferred payment scheme? The Deferred Payments Scheme is designed to help you if you have been assessed as having to pay the full cost of your

More information

No selling. No jargon. Just the facts about equity release schemes. Raising money from your home. Our guides here to help you

No selling. No jargon. Just the facts about equity release schemes. Raising money from your home. Our guides here to help you September 2010 Our guides here to help you This guide is part of our Pensions and retirement series. Buying a home. Everyday money. Saving and investing. If things go wrong. Available from our helpline

More information

If you have Parkinson s, or care for someone who does, you may have

If you have Parkinson s, or care for someone who does, you may have Work, Symptoms money and and practical lifestyle matters General information about benefits If you have Parkinson s, or care for someone who does, you may have some concerns about how you will manage financially.

More information

Paying for your own residential care

Paying for your own residential care Paying for your own residential care October 2015 Page 1 Contents How will I know whether my needs have to be met by residential care?... 3 How do I find a home?... 3 How much will I have to pay towards

More information

Key Features of the Local Government Additional Voluntary Contributions (AVC) Scheme for England & Wales

Key Features of the Local Government Additional Voluntary Contributions (AVC) Scheme for England & Wales Key Features of the Local Government Additional Voluntary Contributions (AVC) Scheme for England & Wales Important information you need to read The Financial Conduct Authority is an independent financial

More information

The Saga Guide to Paying for Care

The Saga Guide to Paying for Care The Saga Guide to Paying for Care Welcome An active and secure retirement is something we like to think we re all entitled to and we find it hard to imagine a time beyond that, when we may need care from

More information

AL amyoidosis Infosheet

AL amyoidosis Infosheet AL amyoidosis Infosheet Myeloma UK Broughton House 31 Dunedin Street Edinburgh EH7 4JG Tel: 0131 557 3332 Fax: 0131 557 9785 Myeloma UK Infoline 0800 980 3332 www.myeloma.org.uk/ amyloidosis Charity no.

More information

Version 0.1 Adult Social Care Deferred Payment Policy Issued: April 2015

Version 0.1 Adult Social Care Deferred Payment Policy Issued: April 2015 Adult Social Care Deferred Payment Policy 1 Introduction 1.1 This Policy details how Deferred Payment Agreements (DPAs) are to be operated by Rochdale Council from April 2015. 1.2 When a person enters

More information

Blackburn with Darwen Borough Council Deferred Payments Scheme

Blackburn with Darwen Borough Council Deferred Payments Scheme Blackburn with Darwen Borough Council Deferred Payments Scheme A guide to Deferred Payments paying for residential care or nursing care if you own your own home. 1 What is the Deferred Payments Scheme?

More information

Interest Only Mortgages Toolkit. Introduction

Interest Only Mortgages Toolkit. Introduction Interest Only Mortgages Toolkit Introduction The Money Advice Service gives free impartial advice and provides tools, calculators, videos and other resources across a wide range of money topics and life

More information

How to get help if you can t pay your bill

How to get help if you can t pay your bill How to get help if you can t pay your bill Code of Practice 1 - Code of Practice Please tell us straight away if you are having difficulty in paying. We are always happy to help. Call our customer helpline

More information

Get advice now. Are you worried about your mortgage? New edition

Get advice now. Are you worried about your mortgage? New edition New edition July 2009 Are you worried about your mortgage? Get advice now If you are struggling to pay your mortgage, act now to stop your situation becoming worse. Working with Citizens Advice Bureaux

More information

Dealing with Debt How to petition for your own bankruptcy

Dealing with Debt How to petition for your own bankruptcy Dealing with Debt How to petition for your own bankruptcy Contents Where can I get advice about bankruptcy?... 3 What are the alternatives to bankruptcy?... 3 How do I petition for my bankruptcy?... 4

More information

Equity Release An easy to understand guide just for you

Equity Release An easy to understand guide just for you TRuE BEARing ChARTEREd e Right direction for Financial Advice Equity Release An easy to understand guide just for you True Bearing Chartered 2 Buckshaw Court, East Terrace Business Park Euxton Lane, Euxton,

More information

Certificate in Regulated Equity Release

Certificate in Regulated Equity Release Unit 1: Fundamentals of Equity Release Certificate in Regulated Equity Release Attainment Level knowledge of: K1 Definition of a Home Reversion (HR) plan & alternative methods of equity release/capital

More information

Important information. Key Features of the Income Choice Annuity

Important information. Key Features of the Income Choice Annuity Important information Key Features of the Income Choice Annuity Important information The Financial Conduct Authority is a financial services regulator. Prudential is required to give you the important

More information

JOINT AND SEVERAL LIABILITY. Partnership responsibilities

JOINT AND SEVERAL LIABILITY. Partnership responsibilities JOINT AND SEVERAL LIABILITY Partnership responsibilities March 2014 Contents Why do I need to know about it? 1 What does Joint and Several Liability mean? 1 How do we open a partnership account? 2 How

More information

No selling. No jargon.

No selling. No jargon. January 2008 Our guides here to help you About the Financial Services Authority. Everyday money. Saving and investing. Pensions and retirement. If things go wrong. Buying a home. Available from our Consumer

More information

A Guide to Paying for Building Repairs and Maintenance

A Guide to Paying for Building Repairs and Maintenance A Guide to Paying for Building Repairs and Maintenance Useful information for home owners service and people first This leaflet provides general financial information and does not constitute regulated

More information

Spotlight. Defined benefit (DB) pensions and the new pension flexibilities. Have I got a defined benefit pension?

Spotlight. Defined benefit (DB) pensions and the new pension flexibilities. Have I got a defined benefit pension? This factsheet outlines how defined benefit (DB) pensions are affected by the new pension flexibilities. The Pensions Advisory Service is unable to give individual specific advice and you should seek alternative

More information

Get advice now. Are you worried about your mortgage? New edition

Get advice now. Are you worried about your mortgage? New edition New edition July 2010 Are you worried about your mortgage? Get advice now If you are struggling to pay your mortgage, act now to stop your situation becoming worse. Working with Citizens Advice Bureaux

More information

Welcome to. OneFamily

Welcome to. OneFamily OneFamily Lifetime Mortgages 1 Welcome to OneFamily Welcome to our OneFamily Lifetime Mortgages. This brochure acts as an easyto-digest introduction to lifetime mortgages and provides you with a summary

More information

Deferred Payment Agreement Charging

Deferred Payment Agreement Charging Deferred Payment Agreement Charging What is a Deferred Payment Agreement? A Deferred Payment Agreement is an arrangement with the council that will enable you to use the value of your home to help pay

More information

Our fees and charges explained

Our fees and charges explained Our fees and charges explained and other important information about how your mortgage works May 2015 What s in this booklet Keeping you informed 3 Application and valuation fees 3 Application fees 4 Valuation

More information

Get advice now. Are you worried about your mortgage?

Get advice now. Are you worried about your mortgage? Are you worried about your mortgage? Get advice now If you are struggling to pay your mortgage, or you think it will be difficult to pay more when your fixed-rate deal ends, act now to stop your situation

More information

Factsheet 60 Choice of accommodation - care homes

Factsheet 60 Choice of accommodation - care homes Factsheet 60 Choice of accommodation - care homes April 2016 About this factsheet This factsheet explains what rights you have to choose the care home that you will live in and its location when your local

More information

Going into hospital money matters

Going into hospital money matters Going into hospital money matters RET0403 Being admitted to hospital either voluntarily or under section can be a distressing experience. Often money may be the last thing on your mind. However if neither

More information

Important information. Key Features of the Flexible Life Plan (top-up payments)

Important information. Key Features of the Flexible Life Plan (top-up payments) Important information Key Features of the Flexible Life Plan (top-up payments) > Contents About this booklet 4 About the Flexible Life Plan (top-up payments) 4 Its aim 5 Your commitment 5 Risks 6 Questions

More information

Guide to Bankruptcy. When - Where - How - What

Guide to Bankruptcy. When - Where - How - What Guide to Bankruptcy When - Where - How - What 1 Contents 1. About this guide....3 2. What is bankruptcy?...3 3. How are you made bankrupt?...4 4. Where is the bankruptcy order made?...4 5. Who will deal

More information

Key Features of the Prudential Personal Pension Scheme

Key Features of the Prudential Personal Pension Scheme Key Features of the Prudential Personal Pension Scheme Important information you need to read The Financial Conduct Authority is the independent financial services regulator. It requires us, Prudential,

More information

Key Features of the Immediate Lifetime Care Term Assurance Plan

Key Features of the Immediate Lifetime Care Term Assurance Plan Key Features of the Immediate Lifetime Care Term Assurance Plan Reference LTCKFDIMMTA 10.14 The Financial Conduct Authority is a financial services regulator. It requires us, Friends Life Limited, to give

More information

Want. to make. your. home. your. own? Find out if this could be the right time to consider buying. Your Right to Buy

Want. to make. your. home. your. own? Find out if this could be the right time to consider buying. Your Right to Buy Council or Housing Association tenants Want Your Right to Buy to make your home your own? Find out if this could be the right time to consider buying 1 Contents Why you might like to buy Why you might

More information