My widowed sister-in-law has dementia and we need to sell to fund her care home, but the charges seem excessive
The sheltered housing provider Anchor is taking more than 60% of my widowed sister-in-law’s nest egg, which she needs to fund her care home.
She and her late husband bought a £59,995 retirement flat at an Anchor development in Leominster in Herefordshire in 2004. She now has dementia and has had to move out of the flat into full-time care.
The flat has been valued at just £40,000. To my horror, a clause in the deeds entitles Anchor to 2% of the original purchase price when the property is sold. Not only that, it pockets that 2% for every year she has lived there, which totals about £25,000. That’s 63% of the price we expect to get from the sale.
MR, Bishop Auckland
