We recognise that self-funding is a large financial commitment, so it is important to fully understand the implications of this at the outset.
With this in mind, we work with prospective residents on the following areas:
The length of time the resident’s savings and capital will cover the home’s fees. We ask for written evidence to show that this period will be at least two years.
Arrangements for the sale of any property owned by the resident. If this is required to cover the home’s fees, a personal guarantee from a third party to cover the shortfall is needed until it is sold (see “Guarantee Deed – Property to Sell“).
Eligibility for government benefits. Some benefits are not means tested (e.g. Attendance Allowance), so it is good to check that the resident is not missing out on anything.
Continued Funding
We are able to continue to accommodate residents when they are no longer able to pay from their own resources provided that they:
Fully disclosed their financial resources to us in writing when they moved in and have used these resources exclusively for the home’s charges in the meantime.
Are assessed by Gwynedd Social Services as having on-going nursing care needs at the time they are no longer able to pay.
Provide us with the financial assessment conducted by Gwynedd Social Services.
Successfully claim all eligible benefits.
Are prepared to use their income to cover our charges.
