However, in relation to the family home, the contribution is capped at three years – ie 22.5 per cent of its market value. Until the rules changed recently, this cap was dependent on people not selling their home. So to cover the cost, people are allowed to provide for a nursing home loan under Fair Deal to cover the payments due on the home for those three years.
But the money does have to be repaid. That doesn’t necessarily mean you have to sell your mother’s home when she dies. You can choose to pay the bill from other financial resources, or take a loan out from a bank or credit union to cover the cost. This is not necessarily practical for everyone, depending on their own age or income, but they are options.
You say your wife is your mother’s carer. Though it will not apply to you, it is worth mentioning for others that some carers who remain living in the nursing home patient’s family home after the patient enters nursing home care can seek a deferral of any repayment. Other than that, the property must be their only residence, they must not own any other property, they must have lived in the home for no less than three years before the nursing home loan was taken out under Fair Deal. In those cases, the 12-month window for repaying the loan starts ticking when the carer dies – or six month after the house is sold, whichever is the sooner.
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