Park home...

Is this for you lucky?

Yes - have to sell to pay NH fees; or take equity release/lifetime mortgage etc.

In fact this "park home" is not on a park. It is on a freehold plot; but it is of course cheap and would release more capital for the fees.

Luckygirl There are quite a few discussions on GN about Park Homes giving the pro's and con's I just don't know how to direct you to the comments sorry x

Not quite a park home, but I lived first in a caravan, and then sort of upgraded to what could have been called a mobile home, (though that would be a generous description) years ago.

I have to say, I loved it.

When we did an early completion on our family home we stayed in a mobile home for 3 weeks before we moved abroad,I enjoyed the experience and obviously the storage was at a premium but we managed fine and would never be put off from doing it again.

I believe there are 2 issues at least to think about: they can be cold due to poor insulation; and they lose their value (I stand to be corrected!)

My aunt lived in a park home, on a site, for several years. Later my cousin got a unit there, too. They seemed quite content and the site owners were sometimes helpful. My cousin now lives in another park home somewhere else having lived in a house in between.

I'm sure there are things that aren't so good, like the insulation, but I can see lots of advantages, too. Nice if you have a bit of garden that's easy to cope with, the home will be 'compact' (!!) so will be easy to keep clean. If it's on its own freehold plot it's better than on a park.

It might be a better way to release capital than an equity release scheme - at least it will be all yours!

My parents have lived in one for 20 years. It is a lovely place, very warm. They do depreciate in money, but if you are happy living there that should be okay. Often if you want to sell it has to be to the site owners. There are annual maintenance fees too which will vary from site to site.

Nearly 50 yrs ago we had a mobile home and our 1st child was born, it was damp and cold and we survived. Since then insulation and heating has become much better and retired couples seem to love the controlled access community that most seem to be.
The main concern that you should be aware of it that unlike a house that is going to gain in value, a park home will loose value and may be worth very little after 20 yrs. That aside you have ground rent and a service charge to pay and if you want to sell the site owner will want to approve who you sell to, so do your homework carefully.

Luckygirl, surely the authorities won't make you sell your home while you are still living there.
I understood that funds could be recovered, after the surviving spouse had died.
Please come back and advise me if I am wrong in this.

Yes, that is my understanding too.

That's true flo but the home and fees have to be acceptable to SS/LA I believe and on their list.

Yes, I agree with Auntieflo, it's called the Deferred Payment Scheme: www.nhs.uk/conditions/social-care-and-support-guide/money-work-and-benefits/paying-for-your-own-care-self-funding/
Scroll down the page for relevant info.

A friend moved into a park home, while he very much enjoys everything about it the costs have been much greater than he first thought.

Park homes are not what they used to be - and the law changed in 2013, making things better for residents. (e.g. you can sell to whomever you like: there is no obligation to sell to the park owner.) Lots of information here: www.ageuk.org.uk/globalassets/age-uk/documents/factsheets/fs71_park_homes_fcs.pdf

I have a friend who lives in a lakeside mobile home and she loves it but as with many of these places you can't live in them a full 12 months of the year so that would be something to look into. Have you thought about a small apartment in a retirement block?

I also can't believe you would be made to sell your home to pay for the NH fees though. When my mum went into care dad was still in their house and it was only when he too went into care that the house was taken into consideration to pay for her (he was fully funded). A second charge was put on it until it was sold. I appreciate all areas are different and this was 10 years ago so things may be different where you are.

This is going back quite a few years and rules may be different now but my husband's aunt had to go into a home as she had dementia. Her only child (unmarried man in his fifties) lived in the same house and was being pressurised to sell it to pay for fees. He went to his MP who fought the case for him and the authorities backed down. When his mother died, he inherited the house and he still lives there.

I haven’t lived in a Park home lucky but did consider one for fabulous views.

The home you are thinking about isn’t on a site so no fees to pay. I’m assuming it’s connected to mains services, has public transport accessible to it, has adequate parking for you and visitors, is in a convenient location and there are no outstanding planning issues for the plot. Is there a garden?

Insulation in new park homes is excellent. Many have an en suite bathroom and a walk in wardrobe in the main bedroom, a second bedroom, family bathroom and roomy living accommodation. Have you looked at it? Storage can be reasonable or minimal and yes, they can lose value over time. If it’s an older park home you would need a specialist surveyor to check it out for integrity and insulation level. We looked at them, loved the layout of many of the new ones and the views from one site but were deterred by site fees and lack of public transport.

Please seek advice on the funding issue, of course you want to do the best for your husband but so hard to have to leave your home.

It may be different in Scotland but my understanding is that no one can force you to sell your home to pay care home fees for a spouse.

It seems to me that the danger of realising a lot of capital is that it will then be subject to the govt clawing it all off you again, leaving you with nothing, as you will be above the savings limit.

I don't know what the answer is, but the very fact you are having to consider this is appalling and I feel very angry about it.

You are right SueDonim - if I realise some capital my OH will be over he financial limit for SSD input; but if I don't I will not have enough money to pay for his care - rock and a hard place I feel.

The LA are not forcing me to sell/take mortgage etc., but they are saying that they will only contribute up to a ceiling and that the family have to then "top up" - a slightly jokey phrase since the amount I will be paying far exceeds any tiny contribution they might come up with. The ceiling amount is so low that there are very few NHs that are prepared to accept people at that amount; and those homes that do are absolutely not places that you would wish a loved-one to go.

So I have no choice but to find this extra money from somewhere. Indeed I may have to pay the lot as tomorrow a panel are meeting to decide whether they will contribute at all - even though he has been financially assessed for the amount they should pay. The reasoning would be that they do not trust me to pay the top-up, even though I have explained that I have plans in place based on a financial advisor's advice. I am completely in their hands - these people who have never met me or my OH.

It is a complete disgrace.

Luckygirl do not panic!
Any decision about selling up or downsizing should not be one taken while you are under all this stress. Do not even suggest you might be willing to realise your assets- you need a home to live in and if or when you do decide to move, that should be a calm and considered decision on your part.
I personally think you are still in a degree of shock, so please, please do not do anything rash.

Good post maw.

Thanks for these thoughts and wise advice - I am just putting out feelers at this stage as it helps me to know that I have some fall-back position when liquid funds run out. In shock indeed! - I am shocked at how crass the LA is in its dealings with me. Would I like to get evidence that he is unlikely to outlive my funds so that they know they will not be left holding the financial baby? - well no, not really, I would rather not, but it looks as though I have no choice.

What a minefield.

I know three different people who live in this type of housing. Two who have recently purchased and one who has lived in one for several years. Their's are spacious,(rather like a small bungalow) warm and well insulated, all have a small garden
attached and one has a garage. So sad for your situation.