Care home fees

MoneyMission2015

geoffken wrote: »

Thanks for help in this.
It looks like disregard will apply but it is not clear if the "residual "profit" from downsizing can be taken for fees or if second house is also in joint names what happens.
Neighbour will have to seek professional advice.
Thanks again for help

I would imagine that even if the disregard applies, once the house is sold and a new one bought, the couple will have circa £150k in the bank, so wouldn't the fees then need to be paid with this?


This is a genuine enquiry by the way because I don't know the ins and outs of how it works with care home fees and homeownership. I did have a brief look at the link posted below and to me it seems that the money is safe while tied up in the house but wouldn't be if it was just cash in the bank.


I am happy to be corrected though as I really don't know a lot about this and may well be in a similar position with parents in years to come.