Will I Have To Pay For My Own Elderly Care?

Find out about the different options for paying for care and what you need to do to get financial support, if you are eligible.


We are an ageing population and figures show that by 2035 a further 190,000 elderly people will require care. With a care system under pressure it is sensible to plan for care as early as you can, along with the help of plenty of research and advice from a qualified IFA (Independent Financial Advisor) with experience in planning for paying for care.

Part of that planning is understanding how financially responsible you will be for your own care.

You won’t be entitled to any help from your local council if you have savings over £23,250 or if you own your own house in full (and want to move into a care home).

You’ll need to get a financial assessment from your council to find out if you are eligible for help with your care, but before that you might need a care assessment to understand how much care you need.

Paying For Care Yourself

You can opt to be a self funder without even going to the council to ask for help if you either don’t want financial help or know you’re not entitled to any. But you can ask the council to arrange and pay for the care on your behalf and they would then charge you for the care and possible for the service as well. You may wish to do this to get help with organising care for a relative.

How Much Does Care Cost?

Care can be expensive, but home care and residential care can be comparable in cost depending on the level of care you need, which is good to know so you understand you have a choice. Carers at home providing home care services can cost anything from £650 to £1600 per week depending on the amount of care you need. Care homes can cost round £600 to £840 pounds per week. So depending on where you are with the level of care needed, care in the home, which most people would prefer, could well be an affordable option according to the Live-in Care Hub.

Benefits And Paying For Care

Benefits could help you pay for care costs either with care homes or home care. The Attendance Allowance and the Personal Independence Payment can be used towards the cost of care.

Selling Your Home

One of the biggest worries people have when it comes to paying for care homes or home care services, is selling their home. You may need to sell your home to help pay for care unless your partner remains living in the property. Sometimes it is a smart option to use the money from a house sale to pay for care but there can be other ways to pay if you aren’t ready to sell up straight away. An IFA can speak to you about those options.

What Is Next?

It is important to do as much research as possible and to speak to a professional IFA with experience in this area. The UK Care Guide is an excellent starting point for research. It is also highly recommended you get a care assessment and speak to your family about your care plans before you make any firm decisions about the care you want and how you want to pay for it.