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Fair Deal Scheme

  • 18-01-2021 7:48pm
    #1
    Dankarl
    Registered Users, Registered Users 2 Posts: 38 ✭


    Hi,

    Father may be heading into the nursing home. Looking to apply to the fair deal scheme. The application requires a house valuation but at what stage does the house need to go up for sale ?

    DK


Comments

  • #2
    brightspark
    Registered Users, Registered Users 2 Posts: 2,637 ✭✭✭brightspark


    iba wrote:
    Need to retune a dish and cant find an up to date answer for what is the weakest transponder on Astra 28.2 please? Even the station will do and Ill look up the transponder

    Dankarl wrote:
    Father may be heading into the nursing home. Looking to apply to the fair deal scheme. The application requires a house valuation but at what stage does the house need to go up for sale ?


    Can't believe no one answered this for you yet.
    The house doesn't need to be sold until the person dies (perhaps not even then if you can make the payment).

    Actually selling now would be a bad idea as the house is only considered for the initial 3 years up to about 22% of its valuation at 7.5% a year (7.5 may not be exact, going on memory here). But if you sell then the cash is then liable every year.

    Unfortunately renting out the property makes no sense either as it is income treated at 80% so not worth the trouble.


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