SLC product comparison

  Deferred Payment Agreement Care & Home Inheritance Plan
Provided by Some Local Authorities Shaw Lifetime Care
Available in all of the UK? No: Not in all Local Authorities in England and Wales Yes, in all Local Authorities in England and Wales
Who is responsible for putting the home into lettable condition? The Customer. The CHIP.
Who is responsible for finding tenants, collecting rent, and covering voids? The Customer. The CHIP.
Is the customer's care home choice restricted? Yes: some LAs only offer DPA's on cheaper care homes No: customer can choose any care home
Interest accruing on fees paid to care home. Accrues and is repayable (in addition to the fees paid) following death of the customer. No charges applied other than the break fee which is only payable if and when the freeholder chooses to terminate the lease.
Can the customer outlive the money available to pay for their care and then be required to move to a cheaper Local Authority Funded care home place? Yes. No: the agreed contribution to care home fees will be paid however long the customer needs or else the lease is terminated without any break fee being payable.
Can the customer or those inheriting the freehold obtain full ownership of the property debt free? Only by repaying all the care costs paid by the Local Authority plus interest, usually required within 3 months of customer's death. Yes: at any time on payment of the break fee or for no cost once the break fee has reduced to £nil (typically after 10 years).

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