A Deferred Payment Agreement is designed for people who own their own home, but either do not wish to or cannot sell it immediately and cannot meet the full cost of their care home fees from their other income or capital. A Deferred Payment Agreement can only apply to the property which was your former main or normal residence.
Effectively, the scheme offers you a loan from Worcestershire County Council using your home as security.
Property information pack
Looking to find out:
- what the Property Disregard Period is
- how the agreement works
- advantages of using the Deferred Payment Agreement
- if you're eligible
- when you're acting on behalf of someone else
- where to get independent advice