Deferred payments

Firstly, you need to be assessed.

If you are eligible for a care home placement, you then need to complete a Deferred Payment Application form.

We then use this in conjunction with the other financial information to determine if you are financially eligible.

Eligibility

You should be eligible if you:

• are assessed as having eligible needs which we decide should be met through a care home placement
• own your own home (unless your partner or certain others live there)
• have savings and investments of less than or equal to £23,250 (not including the value of your home but does include any other properties you may own)
• can provide security for the debt, usually in the form of a land registry charge on your property. You must register your property with the Land Registry if you have not done so already
• you have mental capacity to understand and agree to a deferred payment agreement or have a legally appointed person who can do this on your behalf, such as a power of attorney or deputy

We can refuse it if: 

• we are unable to secure a first legal charge on your property
• you are seeking a top up and the amount of the top up does not seem sustainable for the duration of the placement given the amount of equity in your property
• you do not accept the terms and conditions of the agreement

The Residential Financial Assessors within our Customer Finance team will be able to provide advice around your own circumstances.

Call us on 0300 300 8000 for advice.