The implementation of a deferral of payment should not last more than 12 weeks. The value of your home is ignored for the first 12 weeks after moving into care. The agreement should therefore be ready for the time you start participating in the fees. Hampshire County Council`s “Deferred Payments” system allows you to use the value of your home to help you pay your retirement home expenses We calculate interest on the amount owed, while helping to pay care home bills on behalf of another person. The interest rate is currently 1.45% (until 31 December 2019) and is set at the national level. It is checked every six months. For the first 12 weeks, you are in a nursing home, your home is ignored to calculate what you could pay, and a DPA would usually start after that period. If you move into a retirement home and most of your money is spent in your home, your local authority can offer you a deferred payment contract. Sometimes it is not possible to establish a deferred payment contract, even if you qualify according to the eligibility criteria, z.B.: The person who contributes to the payment of the charge is called a “sponsor.” If a bond is agreed, the sponsor is required to make the weekly payment for the duration of the placement of the care home directly to the nursing home. You can complete the payment deferral in different ways: You will have to deduct from it the interest and fees of the deferred payment system, the maintenance and insurance costs of the house and the fees for each owner you use. In the event of the rejection of new deferred payments to a deferred payment contract, the local authority should allow at least 30 days to stop the additional deferrals; and should give the person an indication of how their care costs will have to be covered in the future.

Depending on the circumstances, the person may either receive assistance from the local authority to cover the cost of his care, or be required to cover his expenses on his income and property. As a general rule, the municipality ensures that the money you owe in care costs is reimbursed by a legal charge of your property. This involves contacting the land registry in order to collect the tax. The tax is waived when the debt is repayed. Read our guide to what happens to nursing home services for more information. It is actually a bridging credit to cover your care home expenses by using your home as collateral. As part of a deferral agreement, the Council pays your retirement home expenses and guarantees the loan against your property. You can delay the Council`s refund until you decide to sell your home or until you die. Under Section 35 of the Act, the local authority has the power to offer a deferred payment contract to people living in residences (formal systems) when: nurses and families are ready to make decisions about their care and how to pay for them.

We charge your interest on the deferred amount, including any administrative costs you have deferred. Interest is paid daily.