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Thu May 18, 2017, 04:49 PM

Forced equity release

Hi,

The Guardian has today (18/5/17) reported on the Tory manifesto. If this manifesto becomes law, elderly and unwell people requiring care at home will be required to give up sole ownership rights to their homes if they lack the savings to pay. Currently the home is not regarded as an asset in means testing this level of social care.

Helpfully, the Tories will offer a range of 'equity release products' to facilitate this legal process. No doubt the products will be supplied by private companies with shareholders and profit margins to meet.

This sounds like a conservative wet dream to me, but what's not to like?

c.

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Reply Forced equity release (Original post)
Dworkin May 2017 OP
LeftishBrit May 2017 #1
Dworkin May 2017 #2

Response to Dworkin (Original post)

Fri May 19, 2017, 05:04 AM

1. Argh!

What with this and the pension policy, it seems as though the Tories are determined to harm and alienate the very people who are both most likely to vote at all, and most likely to vote Conservative. But probably it won't damage the Tory prospects as it should. This is one of the masochistic countries on Earth!

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Response to LeftishBrit (Reply #1)

Fri May 19, 2017, 03:44 PM

2. dementia tax

Hi Leftish,

Agreed. But, there is a live narrative here. Caroline Lucas is calling it the 'dementia tax' and that could stick.

D.

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