Funding

We recognise that choosing care community living is a major financial commitment, and that information and guidelines around fees and other costs can sometimes be complex and confusing.

A simple explanation of self-funding criteria is included below, further details of our weekly fees and guidance for those eligible for social services and/or NHS funding will be added soon. Regardless of your situation we strongly advise that you take independent financial advice from qualified advisors, such as SOLLA.


Self-funding

Under the current means-testing system in England, if you have capital (savings and assets) worth more than £23,250 - or a high enough weekly income - you will need to pay the full cost of your personal care, including accommodation costs. This is called self-funding, and will apply to the majority of our residents.

We feel its vital that everyone is clear of the financial implications of moving to a care studio from day one, and our advisors will work with all prospective residents to ensure that:

  • their savings and capital will cover the fees for a period of at least two years (we require written evidence of this);
  • if the sale of any property owned by the resident is required to cover the fees, we will ask for a personal guarantee from a third party to cover the shortfall in their capital until it is sold (alternatively we can offer competitive part-exchange terms on the property);
  • their eligibility for government benefits is assessed - some benefits, such as Attendance Allowance, are not means tested so it's good to check that they are not missing out on anything;
  • any migration to NHS Continuing Healthcare funding (should the resident become eligible) will mean that the NHS will fully cover their health care needs. However, the resident will still need to fund the cost of the enhanced facilities and accommodation provided that are not required to meet their health care needs.

Visit The Care Home Group website for links to useful online resources