Paying for a Care Home

*There are almost 400,000 people in the UK living in residential and nursing care homes. Of these, almost half pay for care themselves and the rest are supported, either wholly or partly, by their local authority or the NHS.

Care homes are paid for in the following ways:

Local authority funding: the LA funds some or all of the care. A relative or friend of a resident can also contribute an additional voluntary payment, known as a top-up fee.
Self-funding: the person being cared for (or their family or a friend) pays all the costs of their care.
NHS funding: in some circumstances the NHS will cover the cost of the care.

*which.co.uk

Thousands of elderly homeowners may be at risk of dying in their own homes because they can’t afford to pay for Residential Care until they sell their property.

These people are either not eligible for Local Authority or NHS funding due to the value of their assests or because they want to have a choice of the quality of care they'll receive. However, until their property is sold, which may take some time, they've no other option other than to stay put.

Until now...

Ted Yeates, later life planning expert and owner of Your Money Friend Ltd (YMF) launches a FREE service to these vulnerable adults, and their attorneys, which will allow them access to the YMF Complete Care Funding Plan (CCFP) and secure a place in a Residential Care Home of their choice.

Following a personal discussion between Ted Yeates and the client or their attorney, Clients will be personally referred to carefully selected specialist companies that can advise and arrange suitable solutions to resolve the major difficulties associated with residential care funding.

Solution 1. Accessing Capital Prior to Property Sale

Clients are invited to discuss their requirements, in strictest confidence, with Ted. Some basic information about the property and how much money is needed will be collected and will, with the client's permission, be passed on to a suited partner to request a bridging loan secured against their property. Loans up to 65% of the property value are often available without paying any up-front costs.

Solution 2. Selling A Home Whilst in Care

Client's and their families can reduce any undue stress and maximise house sale profits by appointing our bespoke property sales company to sell the house. A dedicated property specialist will act on the client's behalf to ensure that they maximise the sale price by marketing the property using the right strategy, the right estate agent and the right price.

Solution 3. Arranging life-long guaranteed income

Our experienced and trusted independent Specialist Care Fees Planning partners will investigate the full range of care funding solutions available. Including the use of their allowances, savings, investments together with Immediate Needs Annuities that can provide tax-free guaranteed and increasing life-long income.

The Experts

You will be assigned to one of our 'solution' specialist companies who are all well-established and highly qualified in their specialist fields and adhere to all necessary statutory regulations. Client agreements will be arranged between individual companies and clients, and fees may become payable.

FREE Introductions

Your Money Friend Ltd will provide introductions to these specialist organisations for which it may receive a fee. No charge will be raised by Your Money Friend Ltd to any clients for these introductions.

Need help? Book a call at a time to suit your schedule

Let Your Money Friend help to take away the stress of property sale care funding.

Book a call and Talk to Ted.

Book an appointment