When arranging care in the UK, one of the most important steps is the financial assessment. This process determines whether you are responsible for paying all, part, or none of your care costs. Understanding which assets are included in the assessment is crucial, as it directly affects your eligibility for local authority support or whether you are considered a self-funder.
This article explains the rules for financial assessments, the treatment of savings, income, and property, and the differences between care at home and care in a care home.
What Is a Financial Assessment?
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A financial assessment is carried out after a care needs assessment has shown that you require ongoing support. Its purpose is to calculate your available resources by reviewing:
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Income (pensions, benefits, or other regular income).
Savings (bank accounts, ISAs, investments).
Property and other assets (depending on care setting).
The outcome determines whether you pay for your own care or qualify for partial or full funding from your local authority.
Assets Considered in Care Home Assessments
When entering permanent residential care, the value of your property is usually included in the assessment. However, there are exceptions. For example, your main home will not be counted if it is still occupied by:
- A spouse, partner, or civil partner.
- A relative who is over 60.
- A dependent child under 18.
- A disabled relative.
Savings and income are always taken into account when calculating your contribution towards care home fees.
Assets Considered in Home Care Assessments
If you receive care at home, the financial rules differ. Your property is not included in the assessment, since you continue to live there. Instead, only your savings and income are considered.
This makes home care financially less burdensome in many cases, as the value of your main home remains protected.
Key Differences Between Care Home and Home Care Assessments
The following table highlights the main differences in how assets are treated:
| Type of Care | Is Property Included? | Are Savings and Income Included? |
|---|---|---|
| Care in a Care Home | Yes, unless exempt (e.g., spouse still lives there) | Yes |
| Home Care | No, property is excluded | Yes |
Planning Ahead
Knowing how assets are assessed helps families make informed decisions. For those considering care in the future:
- Review savings and investments early.
- Understand exemptions for property in residential care.
- Consider financial products (such as equity release or deferred payment agreements) if self-funding becomes necessary.
For official guidance, consult the UK Government website:
Paying for your own care – GOV.UK
FAQ – Assets in Financial Assessments
Are savings always included in financial assessments?
Yes, savings and income are always included when calculating contributions toward care.
When is property included in the assessment?
Property is usually included for care homes but excluded for home care if you continue living in your home.
Are there exemptions for property in residential care?
Yes, if a spouse, civil partner, or certain relatives still live in the property, it will not be counted.
Does home care protect the value of my home?
Yes, when receiving care at home, your property is excluded from the financial assessment.
Can financial circumstances change eligibility?
Yes, if your assets fall below the funding threshold, you may qualify for local authority support.
Need help finding a care home?
Senior Home Plus offers free personalized guidance to help you find a care facility that suits your health needs, budget, and preferred location in the UK.
Call us at 0203 608 0055 to get expert assistance today.
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