November 2014

News Post

Half the UK to pay more than £177,000 before cap reached

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While the introduction of the £72,000 limit on care spending has been widely anticipated, Partnership has warned that many consumers may need to spend the equivalent of the value of their home before they reach it.

The typical English homeowner would need to spend £177,500 on social care costs over more than six years before they hit the cap, according to Partnership, which calculated this is equivalent to 92 per cent of their housing equity (£193,426).

Under the new system, while a person in England may spend…

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