How to help my parents

Ssss

Thanks so much for all your replies!

The value of 130K is rough - it does not necessarily take into account the state of repair - reckon it would be around 110K, although a little TLC and a new bathroom could push this up!

I will encourage them to talk to the council and age concern regarding sheltered flats, and to get some advice about benefits too.

As mentioned earlier, their mortgage of 33k is over 5 or 6 years!! They assumed that mum would carry on working until late 60's - they did not even consider that this wouldn't happen! Unfortunately the recession has hit employment locally and there are very few jobs around!

RAS

Have any of you checked what benefits they can get? Please see https://www.entitledto.com

Pee

I would suggest you look into benefits, especially Attendance Allowance. Look at remortgaging to get a better rate - that may not be an option given their age and think carefully before you act as guarantor, esp if you cannot find £300 a month. If you can afford to lend them money, do so, with a formal IOU in place so that should the house be sold to fund their care you get back the money you have lent before it is spent on care fees. Tell your parents that putting you both through uni was sufficient inheritance.

lolababy

Hi how about selling your house and theirs and buying a bigger house for you all to live in. One mortgage is better than two.