Self Funding

Most residents pay for their own care

Current government policy is that everyone with more than £23,250 in savings and capital (2013/14), or with income that covers the cost of their care, have to pay for their care themselves. With a large proportion of people being home owners, the majority of residents fall into this category.

Charges & Agreements

The charges for self-funded residents and the associated documentation are as follows.

If a resident is unable to move into the home straight away and we agree to hold a suite in the interim, we charge 50% of the normal amount for the suite for the period that we hold it.

Understanding the financial commitment

We recognise that self-funding is a large financial commitment, so it is important to fully understand the implications of this at the outset.  With this in mind, we work with prospective residents on the following areas:

What happens when a Resident’s money runs out?

We are able to continue to accommodate residents when they are no longer able to pay from their own resources provided that they:

Choice of renting or buying

Most residents rent their suite under a normal Tenancy Agreement.  However, there is also the option to buy it under a 125 year lease and to pay an up-front purchase price rather than monthly rent.  This includes a “buy back” agreement on leaving.

Our solicitor can provide the necessary agreement and we recommend that prospective purchasers take legal advice before entering into this arrangement

Residents who lack capacity to consent to moving in:

If a resident lacks capacity to sign documentation and a registered “Power of Attorney” is not in place, we usually ask for a personal guarantee from a third party to cover the charges until a Deputyship Order has been made and the account has been paid in full.  Our protocol for executing the Tenancy Agreement when a resident lacks mental capacity to give consent also needs to be followed.

Credit Terms

All charges for each month are payable in advance by Direct Debit on the first day of each month.

If accounts are not paid in accordance with these terms, action is taken in line with the following letters.