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Financial assessment - information for home owners

This only applies if you are, or will be, going into a residential home.

If you meet our eligibility criteria for help and you own, or part own, the property that you live in, we will normally take its value into account as part of the financial assessment.

However, we will not include the value of your home if a relative lives with you and will continue to do so after you have moved to a care home. If this is the case, the property must be the permanent and sole home of the relative and they must be:

  • your wife, husband or partner, and they are over 60, or
  • under 18 and directly dependent on you, or
  • claiming or able to claim disability benefits

If the relative stops living in the property, we will take its value into account at that time.

Should you choose to sell your property, the proceeds from the sale will be taken into account as part of your capital.

If you choose to keep your property, you can apply to us for a Deferred Payment Agreement. This is a loan from us, secured on your property, and will help to pay your care home costs. If you don't want (or are not eligible for) a Deferred Payment Agreement, you will need to find some other way to meet the full cost of your care home.

To give you time to decide, or to sell your home if you wish, we will contribute the difference between your income and the care home fee for up to 12 weeks from the date of you going into the home. After 12 weeks, you will have to pay the full care home costs unless you have entered into a Deferred Payment Agreement.

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