Property News · October 27, 2016

We want to use our pensions to pay a mortgage, but what if we end up in care?


My wife and I are unsure whether our pensions would have to be used to cover care home costsQ My wife and I are considering downsizing to move nearer to our daughter. However, the difference in property values between where we live and where my daughter lives means that we’ll need to take out a small mortgage of around £50,000. We are easily able to finance the mortgage as we both have private pensions as well as our state pensions. What concerns us is what would happen if one of us required residential long-term care. How would the remaining partner continue to finance the mortgage if the other partner’s pensions were used to pay the care fees? Would the authorities involved take this into proper consideration? Continue reading…

Source : theguardian.com
Read more…We want to use our pensions to pay a mortgage, but what if we end up in care?

You may also like...