Fair Deal - is it too late to buy a property?

RedStripe1972

Hello,

My mother was diagnosed with dementia yesterday. Myself or my sister are not in a position to mind her full time. We have a position got in an elderly care centre for her.

She has no property in her name as she was living in a granny flat attached to my other sisters house. That sister passed away so in effect she was in a property attached to her son-in-law's house. He owns the granny flat as it is attached to his house, it's his name on the deeds of the whole property.

She has €195k in the bank that my father left her when he passed away, she probably has another €7k in her current account.

My question is, is it too late to buy a property with the €195k seeing as how the fair deal is capped at 3 years on a property as opposed to 7.5% of the €195k cash being taken for the duration of her remaining years (minus the €36)?

I understand that there is a ‘look back’ rule where any assets you transferred in the previous five years are taken into account for the financial assessment, but I can't find anything about buying a property at the last minute.

Any advice or suggestions would be welcome,

Thanks Tony

Cherry Blossom

yes, it is too late. The fair deal scheme is completely dodge proof, they have accounted for every possible loophole in this particular scheme.

Zizigirl

I would ring them and ask them, they will be honest with you. The 5 year look back is about disposal of assets. I would be very surprised if she couldn’t buy a house with her money, as long as it is in her name. Obviously she would have to be deemed in her right mind to enter a contract to purchase a house.