Dont want to loose a property i own to pay for care home.

RayWolfe

siemli wrote: »

i do want the best result for me

Yep. I think that's pretty clear to us all.

siemli

Well nan is the foremost of all of our care.
She offered me to purchase this property as she did not want to see it giong back to the council after all of those years.
I have maintained the property and she does not pay a penny thus allowing her to save for the future....
I paid around £15k for the flat some 9 years ago but have never lived in it.
some of the comments i feel have been very harsh, this is an investment for me and my children, had i not have brought it no one would have and the council would have it back.
Unfortunately my nan was never supposed to go into care but she just cannot cope on her own and her 3 daughters can no longer look after her 24/7.
Once again thanks for your continued advice.
Still un aware of what i need to do at this stage to safe guard my investment.

tanith

Siemli thats the whole point of social housing , that someone who needs it (your gran) gets it while they need it , then when they no longer 'need it', it goes back into the pot for another family that 'need it'. I don't have any advice other than find a solicitor who will advice you..

Minxy_Bella

siemli wrote: »

Well nan is the foremost of all of our care.
She offered me to purchase this property as she did not want to see it giong back to the council after all of those years.
I have maintained the property and she does not pay a penny thus allowing her to save for the future....
I paid around £15k for the flat some 9 years ago but have never lived in it.
some of the comments i feel have been very harsh, this is an investment for me and my children, had i not have brought it no one would have and the council would have it back.
Unfortunately my nan was never supposed to go into care but she just cannot cope on her own and her 3 daughters can no longer look after her 24/7.
Once again thanks for your continued advice.
Still un aware of what i need to do at this stage to safe guard my investment.

Why not?

I have three daughters and expect them to look after me if I become unable to look after myself - that's what families are for!

RayWolfe

So you get a flat worth 100K for an investment of 15K. Now, was that discounted price for you or for your nan? I think it was available to her, not to you, that's why it was purchased in her name, not yours. She had paid rent over all those years, and in order to recognise that, the council let her have the property at a massive discount. It seems that you lent her the money to buy it. Now she could sell it, give you back 15K plus interest and use the balance to give her a few good final years in a decent nursing home. Then she is happy, you are happy and there is no question of fraud in the original purchase, no deprivation of assets, no tax to pay. Happy family, happy tax payers. What could be more simple?
Your final words in the above post are similar to others you have used. "Safeguard your investment". Safeguard your nan. Let her pay with her asset for good nursing care. Put yourself second.

Torby

Minxy_Bella wrote: »

Why not?

I have three daughters and expect them to look after me if I become unable to look after myself - that's what families are for!

I would not want to put such a burden on my children, in most cases you effectively ruin their lives...agreed families are for support, but not at the cost of my childrens lives. I hope NOT to be a burden on my family AND having paid taxes all my working life I expect to be given the same care/medical treatment afforded to those who have paid nothing...anything I have worked hard for should be available to my children...

all I ask for is equality when it comes to healthcare...and its not for my children to provide.

ninky_2

siemli wrote: »

, had i not have brought it no one would have and the council would have it back.
.

allowing them to give it someone else in housing need who could then benefit from low cost housing as your nan has done for many years.

to be fair, it's the system to blame, not you. the selling off of council housing to private individuals at well under the market rate really continues to make my blood boil.

you were just operating in your own self interest. as you continue to do.

Errata

If your nan rents her property the income added to her state retirement pension and high rate attendance allowance should cover most of the weekly cost of her care.
You can make up any shortfall and be reimbursed for your outlay by nan's estate when she dies.

Cook_County

We do not know who has Lasting Power of Attorney (LPA) for nan - but that person or persons must be consulted and may him or herself decide to instruct solicitors so that actions are carried out in nan's best interests.

Nan's best interests are paramount here but instead lawyers fees and tax may eat up much of the value.

Who has LPA or EPA powers here?

rolo1952

Whatever anyone says re this post i think you need to remember that for the past 9 years you have helped your Gran and probably given her a lot of peace of mind financially.
I know some people who have done what you did and helped them buy their council property.
Their elderly relatives were receiving state pension and a small occupational penision which took them out of receiving any help towards their rents etc.

The rent was taking up a very large portion of their pension and basically they had quite a miserable existance.
Not paying rent has vastly improved their quality of life, not spending luxuries but giving much peace of mind in being able to pay the bills etc.

You had the chance to help her and at the same time invest for your future and why not, this is the system , given the chance wouldnt anyone ?.

I,m interested in how you resolve this situation but in the meanwhile just concerntrate on what you have given your Gran over the last 9 years.