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FirstStop Funding Advice

Financial security is essential to older people's sense of well-being, and there are circumstances where it may be important to get advice from an independent financial adviser who has a good understanding of the needs of older people. SOLLA, the Society of Later Life Advisers aims to ensure that consumers are better informed about the financial issues of later life, and their accredited advisers specialise in working with older people. FirstStop can provide details of local SOLLA member advisers, but cannot accept responsibility for the advice they provide.

Paying for Care in Your Own Home

Paying for Care in a Care Home

Handling another person's finances - Mental Capacity Act

Benefits, Grants and other Financial help

Releasing Capital from Your Home (equity release)

Debt Counselling

Other Financial Advice

Care in your own home

If you have been assessed as needing care in your own home (see needs assessment), the local authority may arrange and provide it for you, or you can arrange your own care independently.

Read about paying for care in your own home

Care in a care home

If you have been assessed as needing care in a care home (see needs assessment), the local authority may help you to find a home that can meet your assessed needs but you will usually be expected to find and choose a suitable home yourself.

Read about paying for care in a care home

If you have to self-fund your care you could still be entitled to some financial support from the state and you might find it helpful to seek specialist advice when arranging your finances.

Read more about Self-Funding a Care Home Place

Handling another person's finances - Mental Capacity Act

If you need to manage someone else's affairs because they lack capacity to do so themselves, the Mental Capacity Act 2005 for England and Wales sets out who can act on their behalf, and when and under what circumstances they can do so.

Read about handling another person’s finances

Benefits, Grants and other Financial Help

FirstStop Advice can help you understand what state benefits or support you maybe entitled to help pay for your care or housing.

Read more about state benefits and supportor if you wish to discuss your particular circumstances call our advice line on 0800 377 70 70.

We have also partnered with Turn2us a charitable service which helps people access the money available to them – through welfare benefits, grants and other financial help. Their free, accessible website has been designed to help you find appropriate sources of financial support, quickly and easily, based on your particular needs and circumstances.

Click here to go to the Turn2us service

Releasing capital from your home

The equity in a property is the difference between its value and any mortgage or other debts held against it. Equity release is the term given to unlocking or making available some, or all of this value in your home whilst continuing to live in it. You may wish to consider this to help with the cost of care, home adaptations or improvements or any other personal reason.

Find out more about equity release

Debt counselling

Retirement should be an enjoyable, relaxing time of life, but in contrast it can often be fraught with financial difficulties and anxiety. If you are concerned about meeting your monthly payments, it is important that you seek debt help straight away. Speaking to a debt counsellor will prevent your situation from getting any worse and will enable you to find a solution suited to your particular financial problem.

Read more about debt counselling

Other financial advice

Retirement can often mean significant changes in lifestyle which bring with them financial demands or changes which may involve seeking financial advice. Here FirstStop Advice has collated a number of areas where such advice might be sought and providing links to the Financial Services Authority (FSA) Website ‘Money Advice Service’.

Read more about general financial advice