Property and Asset Disregard
Care home funding can be a significant financial commitment that for most people will require the sale of their property, investments or accessing long term deposit accounts. In some circumstances this process can take weeks or even months, leaving those in need of care without the support that they require when they need it.
What is Property and Asset Disregard?
If someone has to move permanently into a care home and has less than £23,250 in savings or assets, then the local authority will carry out a financial assessment to decide whether they are entitled to the 12-week property disregard.
Property and Asset Disregard allows for a person to move into care immediately, without needing to wait for access to savings or investments, taking the challenge of finding emergency funding off of the person in need of care or their family.
How Can Property & Asset Disregard Help Me?
Property and Asset Disregard provides residents and their families with some time to organise the sale of their property and gain access to funds that will enable a person’s care to begin when needed. During the initial 12 weeks, all care home fees are paid by the local authority.
The 12-week property disregard can be helpful in a number of situations.
For example, if you have been discharged from the hospital and told that you require full-time residential care, you wouldn’t have to remain in the hospital while waiting for arrangements to be made. Instead, the local authority may fund the first 12 weeks of care, giving you time to make suitable financial arrangements.
What happens after the initial agreement period?
Local Authorities may offer a 12 week disregard period. At Park House, we aim to at least match that time frame, and in certain circumstances can extend this time period.
What makes us different?
As a family run business, we offer a Property and Asset Disregard scheme in the event that local authority care funding takes too long or is not available. We work closely as a team to ensure that decisions regarding emergency funding are made quickly and efficiently, generally within 24 hours. We don’t charge any interest on deferred fees and offer simple, fair terms and conditions. To find out more about how to fund care home fees or for more information on local authority funding for care homes, we recommend taking a look at the financial support section on our website or contacting us directly.