Hiya,
We signed up for Fair deal scheme with nursing home loan for a relative.
He passed away 1.5 years into their Nursing home stay. We had his house valued at the time of the loan at 370,000, and in order to sign up for the nursing home loan.
We are also aware that the nursing home need to be notified when the house is sold.
We have just received a letter from HSE requiring a schedule of assets.
My question is, if we sell the house for more than what it was valued at , at time of loan, ( a likely scenario since houses prices have risen since he passed away 6 months ago )
Will we owe the HSE even more money now based on the actual selling price ? Eg: €450,000 , or is the value at time of loan set in stone ?
I read somewhere that calculations are based on the value of the house at time of death , the house value would therefore be more than 370,000 (the Value 1.5 years ago ) but less than the actual selling price.
Please help.
I
We signed up for Fair deal scheme with nursing home loan for a relative.
He passed away 1.5 years into their Nursing home stay. We had his house valued at the time of the loan at 370,000, and in order to sign up for the nursing home loan.
We are also aware that the nursing home need to be notified when the house is sold.
We have just received a letter from HSE requiring a schedule of assets.
My question is, if we sell the house for more than what it was valued at , at time of loan, ( a likely scenario since houses prices have risen since he passed away 6 months ago )
Will we owe the HSE even more money now based on the actual selling price ? Eg: €450,000 , or is the value at time of loan set in stone ?
I read somewhere that calculations are based on the value of the house at time of death , the house value would therefore be more than 370,000 (the Value 1.5 years ago ) but less than the actual selling price.
Please help.
I