If, following your financial and medical assessments, it is clear that neither Social Services nor the NHS will cover the cost of your care there are still situations when the value of your property (even as your main asset) may be disregarded.

In order to qualify for full funding of your nursing or residential care by your local authority, the total value of your savings, capital any property and other assets you own must be below the Lower Threshold limits in the table below

Each £250 (or part thereof) of assets/capital you own between the Lower and Upper Threshold is classified as equivalent to you having £1.00 per week of income for financial assessment purposes.

If the total value of your assets is above the Upper Threshold you will be liable for your own care costs in entirety, less any non-means tested benefits such as Attendance Allowance.

However, in Scotland a flat rate of £153 per week is payable for personal care and a further £69 per week if you are assessed as needing nursing care, regardless of means.

When planning financial solutions to long term care it is important to consider all the alternative possible solutions including:

• The Deferred Payment Scheme
• Renting the property and utilising the rental income for care fees
• Long Term Care Plans
• Specialist Long Term Care Investments
• Low cost bridging loans