Even if you are not availing of the loan a valuation would have been submitted with your Fair Deal application. Your dad would have been assessed at 7.5% of this value for the first 3 years.would doing renovations on the property increase the value and then be considered a "change in circumstances", thus triggering a financial reassessment?
Oh dear, give it a rest like a good man. He asked a specific question and a simple question about Fair Deal, not one on morals or conjecture.There's no inheritance until the nursing home resident dies; and many a surprise has come along after a death.
If I were the OP, aside from it being somewhat distasteful, I wouldn't be counting my chickens!
You can ask to be reassessed annually whether you pay the 7.5% or avail of the loan, they will not look for a revaluation of the house.The 7.5% is assessed on the written valuation of the home at the time of application. The family have opted to pay the 7.5% rather than avail of the loan.
Nothing I have read or researched suggests that the HSE will request a new valuation of the PPR after death *for the purposes of re-evaluating the 7.5% contribution*.
I've sumitted requests on behalf of relatives to the HSE for review of personal contribution & was not asked to revalue the PPR.
I'd be interested in hearing from anyone who has recently settled an estate & repaid a fair deal loan & what their experience was.
Having said that, if there is an attempt to de-fraud, by submitting a false valuation in the first place then all bets are off.
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