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Symponia pilots homebuy scheme to fund LTC

Symponia is starting a pilot scheme aiming at helping elderly people sell their homes to fund immediate long-term care.

The LTC specialist is teaming up with EstateCare+, which buys homes in need of refurbishment, to pilot its scheme in three counties across the UK.

Trials will take place in Bedfordshire, Buckinghamshire and Hertfordshire, with a national launch planned for next year. Clients in need of immediate care will be given the option to have EstateCare+ buy their home outright or retain part of the profit once the property is developed and sold on.

Symponia co-managing director Janet Davies says she hopes the scheme will offer an alternative solution for people struggling to sell their home in the current market.

She says: “By working with EstateCare+, we can offer our client families a structured solution to funding their relatives’ care fees which can in certain circumstances overcome the stalled housing market. We are very excited about this development.”


Build solid structures

The Investment Management Association’s market statistics are not exactly exciting reading for the investment industry at the moment, with total net sales in the negative by millions, but a bright light shines from the new absolute return sector.

Shared opportunity

As we return from our summer breaks for the final push towards the end of the year, it is worth assessing whether there has been any improvement in the mortgage market over the holiday period.


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