Money off your house

what does everyone think about Teresa Mays idea about taking your money 100,000 off your
House to pay for your home in old age.
 I'm definitely not in agreement with that !!
 We have worked hard all our lives to get where we are now, but my daughters have to pay
Astronomical rents to live somewhere, they cannot afford the deposit for a house on a mortgage.
My two grandsons live with me age 30 and 27 because they don't earn enough to rent etc.
And now Teresa wants our money if we need care which we should leave to family
Then all these people who don't want to work etc will all receive help in old age,makes me angry.

Bloody cheek in my view.

We pay high taxes throughout our working career and for what. To have our homes snatch away by greedy government.  

Our one son has managed to get a mortgage but we think our second will struggle. At least if our home is left to them they can at least get a foot on the property ladder.

Think they are allowing you to keep £100k instead of  £23k you are allowed to keep for paying for a care home but are also applying it if you need care at home.

If you think about it the population is ageing.  Corbyn's money tree can't possibly pay for everything that he is spouting on about.  I have posted in another topic an indictment of the true Corbyne who professes to be ably to pay for everything that we want from his money tree.

What people don't understand is that Teresa May's proposal is at least £75,000 better than the current position.  She is to guarantee that the authorities have to leave you with £100,000 to bequest to family


At present the authorities take all but about £20,000 of your assets to fund your care.  She recognises that this is too much and will lift the bar to £100,000.


The only way your kids can get the full value of your wealth is for you to snuff it while you have a non mortgaged house and a healthy bank balance.

We have decided that it's now time for our kids to look after themselves - just like we had to. Now that we are retired it's our time - to enjoy life to the full. I fully intend to spend our assets on us - you only live once and you owe it to yourself - having given your kids a proper start in life - to make the most of the time you have left. 

Too many young ones today have never known what it was like to live through the war - or try to bring up a family in the 70's when the labour government caused chaos and brought the country to its knees with their borrow and spend, free benefits, union uncontrolled economy. Andsome is right - there aint no money tree and people who fall for that brand of utopia are deluding themselves. Teresa may not be a saint - but Corbyn in comparison is the devil.

When I come to power, things will change.

Seems as though I got it wrong, so many people have different stories about what Teresa said,
I would like to be able to spend some of our money but it's all tied up in the house  value,and we have to live in it.

We have been lucky - I spent 12 years as an expat in the middle East returning to the UK in 1998 having bought a large 4 bed house in large grounds on the outskirts of Solihull. This house escalated in value quite nicely and we found it was becoming a chore for my wife to look after and for me to maintain the grounds. So we sold it and downsized.

We now live in a rather nice 2 bedroom house in a retirement estate of just 15 properties, handy for a bus route connecting Solihull and Birmingham, close to a nice row of shops, doctors, hospital etc. We have gardeners that look after the extensive communal grounds and our gardens, window cleaning, house exterior maintenance and even buildings and contents insurance for which we pay a modest monthly service charge. We are all shareholders in the managing company and I am a director - so we manage our own affairs and cannot get ripped off by unscrupulous managing agents as so often happens with retirement apartments and estates.

Hence the profit made on the original house is now being used to finance our monthly holidays and a good standard of living. I recognise we have been lucky - but I worked hard for it.

AlanHo wrote:

What people don't understand is that Teresa May's proposal is at least £75,000 better than the current position.  She is to guarantee that the authorities have to leave you with £100,000 to bequest to family


At present the authorities take all but about £20,000 of your assets to fund your care.  She recognises that this is too much and will lift the bar to £100,000.


The only way your kids can get the full value of your wealth is for you to snuff it while you have a non mortgaged house and a healthy bank balance.

We have decided that it's now time for our kids to look after themselves - just like we had to. Now that we are retired it's our time - to enjoy life to the full. I fully intend to spend our assets on us - you only live once and you owe it to yourself - having given your kids a proper start in life - to make the most of the time you have left. 

Too many young ones today have never known what it was like to live through the war - or try to bring up a family in the 70's when the labour government caused chaos and brought the country to its knees with their borrow and spend, free benefits, union uncontrolled economy. Andsome is right - there aint no money tree and people who fall for that brand of utopia are deluding themselves. Teresa may not be a saint - but Corbyn in comparison is the devil.

When I come to power, things will change.

I couldn't have put it better.  Corbyne is a great danger to the country.