We generally consider requests for a deferred payment contract if you have: Read our frequently asked questions about deferral of payment (PDF, 45KB) for more information. The deferred payment contract means that after the municipality is reimbursed, less money will remain from the sale of your home. This means that anyone who might expect to inherit you will receive less. From this you should deduct interest and fees for the deferred payment system, the maintenance and insurance costs of the home and the fees for each owner you use. A deferred payment contract has no influence on how your income and savings are assessed to see how much you should pay for your care. You can choose to contribute more to the cost of your care and keep less than $144 per week if you prefer. This would reduce the amount you owe the municipality through the deferred payment contract. In Northern Ireland, there is no formal system for deferring payments. But it might still be available – ask your local care and social care company. In Scotland, there is no interest charge as long as you have the deferred payment contract. Interest is only collected if the contract is terminated by the person or from 56 days after death.
Interest should then be collected at a „reasonable rate“ set by the local authority. Only in England, if you have a deferred payment contract, must your local authority take into account the cost of receiving your home when deciding how much you must pay for your care costs. Your municipality may (but should not) charge interest on deferred payments to cover the costs. If you have a deferred payment contract and someone owns your home with you, they must accept the agreement and accept that the house is sold when the time comes to reimburse the local authority. A deferral payment contract is an agreement with the local authority that allows people to use the value of their homes to pay the cost of care homes. There are fees and fees associated with deferred payment agreements. The most common situation in which you should consider a deferred payment contract is when your savings and other assets (excluding your home) are low, but the value of your home makes you cross the payment threshold for some or all of your own care home costs themselves. A deferral of payment means that you do not have to sell your home during your lifetime to pay the care costs. Contact the Deferred Payment Team (Dpa) for more information or to request an application form: if the money is not repaid at the end of the agreement, the local authority can calculate additional interest until the debt is settled. There may also be a common administrative fee, plus interest. The implementation of a deferral of payment should not last more than 12 weeks.
The value of your home is ignored for the first 12 weeks after moving into care. The agreement should therefore be ready for the time you start participating in the fees. If the rental income added to your other income covers all or more than your retirement home expenses, you can rent your property without the need for a deferral of payment. You can also compare with a deferred payment contract with the alternative, z.B. Sell your home and put the product into a savings account.