mortgage

petewba

i bought my mothers house 5 years ago from the council in her name,3 years later i had my name put on the deeds so now it is a joint mortgage. as my mom is now 78 and could possibly go into care could the house be sold off to pay for her care and leave me with nothing?

homer_j_3

I am not sure to be honest and apologise if I have just imagined the following.

I seem to remember about 2000/01 there being quite a lot of media attention and uproar about the elderly being asked to use their life savings and selling their homes to fund care.

I think also that by transferring it in to your name, it still doesnt get round it if she has to go into care within a certain time limit. As I said, I am not 100% confident on this so please dont shoot me if I am wrong.

I am sure one of the IFA's will be able to answer this more comperhensively.

silvercar

petewba wrote:

i bought my mothers house 5 years ago from the council in her name,3 years later i had my name put on the deeds so now it is a joint mortgage. as my mom is now 78 and could possibly go into care could the house be sold off to pay for her care and leave me with nothing?

Yes.

Look at the age concern website for useful leaflets. This is exactly what could happen and a risk that the elderly take in buying their own homes.