According to Age UK, four fifths of councils now only provide care to those with either substantial or critical needs and anyone who doesn’t meet the eligibility criteria of their local council has to pay for any care they need.
Once your local eligibility has been assessed, the council will also assess your financial eligibility. Those with assets (including savings, investments and property, but not including life assurance or annuities) of more than £23,250 will be expected to fund the cost of their care.
The value of your home won’t be taken into consideration if it is still occupied by your spouse, a relative who is aged more than 60 or is incapacitated, or a relation who is under 16.
Residents with assets between £14,250 and £23,250 will be expected to make some contribution towards the cost of their care, but those with assets below £14,250 should not have to make any contribution.