Assessment of property on Fair Deal Nursing Home Scheme.

A friend of ours has had a read through the rules on the Fair Deal Nursing Home Scheme but cannot find a direct answer to their worries in connection with this scheme.

They moved into the family home many moons ago and helped the mother out financially throughout the years. They are married and the wife lives in the home along with the children.

To ensure their home they have a legal agreement in place that they own two-thirds of the home in their own name (not joint with wife) and the mother still holds the other third. Wife's name was not included on mother's insistence. The house will revert to son on mother's death.

Does anyone know how this will affect or work on the property assessment for the Fair Deal Scheme?

I find your post a little confusing, when you say "they" own two thirds do you mean one person?

So your one friend owns two thirds of the house and his mother owns one third, but its the family home for him, his wife and their children. Where does the mother live?

Sorry for confusion.

When he got married he stayed on in the family home and his wife moved in. They have since had children. The mother lives there also.

They have contribued to and maintained the home since their marriage hence the signing over of two-thirds to him.

It appears to me it would be 5% of her share (1/3) of the family home per year for 3 years, but as the regulations do not specify any other types of home ownership .ie part ownership it's difficult to answer.

If property is worth 300,000 her share is worth 100,000 @ 5% = 5,000 per annum for 3 years