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Calculating the Cost of Care Home Fees
Although the cost of Care Homes can vary across the country, on average you can expect to pay around £30,000 per year to live in a residential home and around £40,000 per year, maybe even more, if you require nursing care. There are circumstances in which the NHS will fund care in full (NHS continuing health care) but you would have to have severe health needs to qualify.
If you were to move into residential care and at that time the value of your assets (including your house) were more than £23,250, you would ordinarily have to pay the full cost yourself. If your assets were worth less than this, but more than £14,250, your Council should contribute. And if your assets were below £14,250, the Council would cover the majority of the costs, although you would still have to contribute any income you receive (less the personal allowance of £24.90 per week).
If you were to receive a package of care at home, the value of your house would usually be ignored, although you would still need to meet other criteria to qualify for financial assistance from the Council.
It can be a complex subject, depending on your individual circumstances, and our Private Client team would be happy to help answer any queries.