Equity release and care home fees.

Arrem

Hoping this is in the right section.
Our house is mortgage free and it has been a long time desire to own a campervan so we can travel and enjoy retirement to the full.  We are both in our mid 70's and in fine health (touch wood).
I have read about equity release which could pay for a campervan, but one thing about it bothers me.  What if, one of us has to go into care in a few years time?  
I understand the loan gets repaid when the owner dies but how does the equity release affect the amount of finance to be found in the eventuality of care home fees?

Keep_pedalling

It certainly won’t be treated as deprivation of assets, and in any case if one of you needed residential care your house would be disregarded in any financial assessment while the other spouse was still living in it.

If one of you needed care after the other died then the loan would be repaid on the sale of the house and the remaining equity would be available for care costs.

Your other option would be to free up equity by downsizing. 

Arrem

Thank you, I also appreciate the easy explanation.