Long Term Care

What is Long Term Care?

Long term care is the term given to ongoing care provided to individuals either in their own home, in community settings or residential care homes, because of chronic illness, disability or frailty.

Our hope for retirement

We all hope that our retirement will be a long and happy one and that we retain our health, independence and dignity in our own home until we die.  Unfortunately for many, this doesn't prove to be the case.  Indeed with increasing life expectancy and advances in medication, many of our clients are helping to nurse their husband, wife partner or even parents at home as unpaid carers for many years before they die or have to go into full time residential care.

Consequences of caring for someone

Whether you are a spouse, life long partner or child, not only does this put a tremendous strain on you emotionally and physically but it can also often cause financial difficulties as you have to pay for adaptations / equipment to make life easier, or even reduce or stop working to provide sufficient care.

Whilst there is some help available from your Local Authority in the form of carers, meals on wheels or even adaptations and we would suggest that anyone considering releasing equity release for this purpose should first check these out, our experience tells us that many find that they do no qualify or that any help is either insufficient or in the case of grants - where you have to be assessed and then wait for funds to become available - takes too long.

Equity release schemes can be very helpful in allowing homeowners to maintain their own independence and to remain living in their own home, by helping them pay for any adaptations to their home they wouldn't qualify for a grant for, or would have to wait too long for, or even to pay for additional carers.

Equity release and long term care advice

To avoid unnecessarily taking out equity release to pay for care, we feel it is important that you seek professional advice both from organisations such as Citizens Advice Bureau and from specialist advisers such as ourselves who are able to offer advice not only on equity release but who also advise clients on Long Term Care.  Only this way can you be confident that you fully appreciate what other help is available before proceeding with equity release.

If you would like to arrange a free home consultation with a specialist who is not only an equity release adviser but also an experienced Long Term Care adviser, please complete our online enquiry form or talk to us on FREEPHONE 0800 970 4883.

Further help on Long Term Care

Long term care and understanding all the rules surrounding who pays for care is very complex.  For further information about care visit our specialist dedicated long term care website

"Equity release" includes home reversion plans and lifetime mortgages. To understand the features and risks ask for a personalised illustration.