Before you can apply for a deferred payment contract, you must be admitted to home care or already in a care home by your local authority. It is actually a bridging credit to cover your care home expenses by using your home as collateral. As part of a deferral agreement, the Council pays your retirement home expenses and guarantees the loan against your property. You can delay the Council`s refund until you decide to sell your home or until you die. When a late payment is concluded, the total amount that can be transferred to the asset (normally the property) must be agreed in advance. This amount is called a capital limit and the local authority is not entitled, under the Care Act, to defer total payments on that amount. In Northern Ireland, there is no formal system of deferred payment agreements. However, it is still worth asking your local health and social security company if they could facilitate this type of agreement. If the person has additional savings, he can contribute to the local authority at the cost of his care of this, in turn, means that the amount of deferred payment will be reduced.

However, the municipality cannot require a person with a deferred payment contract to contribute to their savings if they do not wish to do so. Payments must be deferred up to the amount of the personal budget (or the likely amount that is where people have not been assessed by the local authority). If the person wishes to defer less than the amount of the personal budget, this can be agreed, but he must be able to pay the difference between what is deferred and the amount of the personal budget. A deferral of payment is only a means of paying for care and is more in line with the circumstances of some people than others. If you have a deferred payment contract and someone owns your home with you, they must accept the agreement and accept that the house is sold when the time comes to reimburse the local authority. You may be entitled to a deferral of payment if: if the local authority knows that the person has a weekly income of more than $144 (known as personal disposable income), they can ask the person to contribute to the cost of their care for the rest of their income as part of the financial assessment process. This means that only a portion of the costs are deferred. However, their weekly income should never be subject to personal compensation. The premises have the right to calculate interest on the deferred payment, but the government sets the maximum interest rate that they are allowed to calculate. In England, this is based on interest rates on the gilded market plus an additional 0.15%; The rate is revised every six months.