Fair Deal Repayment options

ITgirl73

What is involved in repaying a parent’s fair deal loan when the house is not being sold?

The house is my only home for over 50 years. What sort of loan can I take out? I am looking at 5 year loans but can’t afford the 600 plus monthly repayment mortgages seem to have minimum amounts

Can you agree a repayment plan or agree reduced among etc?

Marcusm

Have you been living in the home prior to the parent’s move to the care home, will/have you inherit(ed) it and were you ever in receipt of carer’s allowance.

in generally, the Fair Deal loan needs to be paid back shortly after the person deceased. However, it can be delayed in a number of circumstances which is why I have posted the questions above. If it is your only property and you lived there for 3 years prior, you should be able to get it deferred. If you were in receipt of carers allowance, it does not matter if you also had another property.

https://www2.hse.ie/services/schemes-allowances/fair-deal-scheme/nursing-home-loan/#deferring-repayment-of-the-nursing-home-loan

reddub15

My father has been in a HSE Nursing Home for the last years, he has no savings and only contributes his pension every week, when he went into the home ,his home was valued at €260000 , could anyone be able to tell me what the final bill will be in the event of my father's passing, the house is unoccupied.

phildub

Did his pension cover his full bill, including value of the house? If he's contributing from his pension he shouldn't owe anything

Marcusm

https://www.boards.ie/discussion/comment/121672891#Comment_121672891

Huh? Average weekly cost is approx €1,300, or €65,000 per annum. Very few pensions would come anywhere near that. The maximum charge is 22.5% of the value of the family home payable 1 year after death.

ITgirl73

I met all the connected persons criteria but there are hidden terms & conditions now being applied that were not visible or highlighted at the time so it was not a suitable deal for us and now I am under huge financial distress as they were not straight with my elderly parents & family. I would strongly advise people to look at other alternatives to Fair Deal as the scheme is flawed & not to be trusted.

Gooser14

https://www.boards.ie/discussion/comment/121677991#Comment_121677991

What are hidden T&Cs you are referring to?

ITgirl73

Name on utility bill 3 years before any fair deal approval was made. Providing copy of 6 year old bill etc. constant obstacles being thrown at you.

carfinder

https://www.boards.ie/discussion/comment/121677991#Comment_121677991

You and your family could have opted to pay the full cost privately I suppose - maybe that would have suited you better rather than pesky "hidden" t's and c's for the state to pick up the majority of the cost. The mind boggles!

nhg

You can claim Nursing Home Tax Relief on the amount you repay to the HSE in respect of the Fair Deal Scheme provided the receipt from the HSE is in your name and details who the nursing home resident was.

phildub

That's not how fair deal works, as a single person you pay 80% of your income and certain percentages of property and cash assets. The property is only valued for 3 years and then it doesn't count. A charge does not go agaisnt your property unless you elect not to pay this contribution and put the full value against the value of your home. If you pay the contribution out of your assets then you will have no bill at the end.

ITgirl73

Just to confirm if I pay the full final amount I can claim back 40% of the bill?

ismat

As long as you have enough income at 40% tax in the year you can