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Shedman

cunctator106 wrote: »

I'm looking to help my parents-in-law (in their nineties, recently moved into a care home, non- mobile but mentally capable) to make the best of their capital to pay their care home fees. When their house is sold they will have some £280k to last several (no-one can say how many!) years. All thoughts welcome please. Any arrangement will need to be secure and reasonably easy to explain and to arrange.

As SJP999 said contact a SOLLA registered advisor. One option they are likely to discuss are Immediate Needs Annuities. For a lump sum premium these will pay an agreed sum each month/year directly to the Care Home (makes it non taxable). It doesn't have to be for the whole amount of the Care Home fees if they have other income. For someone in their 90 s it could be a premium of around 4 or 5 years of payment depending on how their medical condition is assessed (ie for an annual sum of £15,000 the premium might be only £60,000/75,000). You can get various options such as indexed annuities etc. Obviously it's a gamble on longevity but can provide comfort that the fees can continue to be paid no matter how long they live.

In terms of banks the places to get decent rates are mainly with the challenger / small banks but I don't see that as an issue if they have FSCS cover. Unfortunately most of these are online only ones so could be an issue as your folks are in a home and presumably internet banking would be tricky. If you have POA then you can apply by post in a number of cases and you could then operate the accounts online. If you need some views on ones I have found that are easier to open and what docs etc they ask for in those circumstances send me a PM as I have just been through this process for my MiL who has just sold her house and moved into a care home.

I-LOV-MONEY

tel_ wrote: »

Even when I try Nationwide's log-in page in Chrome it still says it's non-secure. Is this not so much of an issue though, as you do have to input your card reader code into it? Which is unique every time you log into it.

I have just gone to the Nationwide site, and their front page onwards is all https . I am using Firefox browser.

masonic

tel_ wrote: »

Even when I try Nationwide's log-in page in Chrome it still says it's non-secure.

When I visit Nationwide, even their main site, in Chrome, I get a secure page. Even if I deliberately enter http:// to go to a non-secure version of the site, I get redirected to https://

If you are seeing the 'Not secure' indicator then that is cause for suspicion.

Is this not so much of an issue though, as you do have to input your card reader code into it? Which is unique every time you log into it.

It is an issue because it means that the code you generate can be intercepted and used, so then a bad guy would be logged into your account and you would see a replica webpage created by them from your data, which they now have...

Internet Explorer doesn't seem to alert me at all when using Nationwide's site.

It should be showing you that the site is secure. It doesn't alert you to non-secure sites (yet). Chrome only started doing so recently.

I-LOV-MONEY

@tel_ double check you have https://www.nationwide.co.uk/ and not .com as that could be mistaken for the genuine building society as it refers to investements and insurance. So make sure you have the address highlighted in bold.

tel_

I did try Nationwide's website this morning, and it does seem to be secure.

Thanks to the people highlighting this issue, as I did wonder why some banks sites were coming up non-secure. Surely this is a basic security flaw that all banks should had addressed by now?

I now have all my banks log-in pages saved as favourites instead

I-LOV-MONEY

I am surprised any bank site is not secure. Please let me know which bank has a non-secure site.

dekkard

I-LOV-MONEY wrote: »

I am surprised any bank site is not secure. Please let me know which bank has a non-secure site.

Here you go:

http://www.theaa.com/savings-accounts/manage-your-savings

masonic

dekkard wrote: »

Here you go:

http://www.theaa.com/savings-accounts/manage-your-savings

AA has both secure and non-secure:
https://www.theaa.com/savings-accounts/manage-your-savings

I-LOV-MONEY

Strange. With the non-secure site; as soon as you click 'login' it goes to a secure site.



If I had my 'hard-earned' tied up with them, I would always make sure I logged into the secure site from the start.

dekkard

I-LOV-MONEY wrote: »

Strange. With the non-secure site; as soon as you click 'login' it goes to a secure site.



If I had my 'hard-earned' tied up with them, I would always make sure I logged into the secure site from the start.

Yes, I think it’d be hard to find a bank that has a non-secure login page. The thing is that all pages that link to secure login pages need to be secure themselves. Otherwise, a man in the middle type attack is a risk.