Mortgage paid off, good or bad?

GunJack

Would equity release count as deprivation of capital if either of you needed to go into a care home later in life?

Kynthia

GunJack wrote: »

Would equity release count as deprivation of capital if either of you needed to go into a care home later in life?

Deprivation of assets I believe is where you give away valuable assets or excessively spend in order to avoid paying care home fees. Using your own assets to enjoy your life is very different, particularly if it's not done with then intention to avoid care home fees and particularly if when it was done there was no reason to expect that either of the parties would need to go into a care home.

kidmugsy

Do you plan to stay in the house after retirement? If so you might want to make it "age-proof": raised beds in the garden, raised electrical sockets indoors, a downstairs shower-room, a downstairs loo .......

I'd have guessed that you might fund such work gradually over the years rather than take out a mortgage to pay for them.

Moby45

Thanks to everyone that replied

bigadaj

Moby45 wrote: »

Thanks to everyone that replied

So what did you decide after the contradictory responses?