What is the Fair Deal Scheme & How to Apply?
What Does It Mean for You and Your Property?
The Fair Deal Scheme, formally known as the Nursing Home Support Scheme, was introduced in 2009 to assist those requiring long-term nursing home care. Those who apply will be evaluated to establish if long-term care is the most appropriate course of action.
In addition, those applying for the scheme will be assessed in order to establish their financial standing including all assets such as any property owned and cash assets. Once approved, you’ll make a contribution toward the cost of care and the HSE will pay the remainder. The amount funded will depend on the financial assessment. It is important to research different care home in advance of your application so that an accurate assessment can be made. Let’s take a look at the application process in relation to any property owned.
How do I apply for the Fair Deal Scheme?
The first step is to fill out an application form. There are six parts in total. The part concerning your non-cash assets, such as property, is Part 4B or page 6 of the application. Some information that is required is, of course, the property address along with the current value of the property. It clearly states that a “Certificate of Market Value” is required to accompany the form. All legitimate auctioneers and estate agents will furnish this document. You are also required to include details regarding any loans on the property such as mortgage payments or credit union loans.
So, what is considered in an official property valuation? There are many factors which contribute to the value of any property. An experienced agent will consider all of these factors and made an accurate appraisal. Some of these factors are:
- Location
We all know location is everything and is a significant aspect when assessing a home’s value. Properties close to amenities, schools, recreational facilities and public transport are more desirable locations and therefore have a price tag to reflect it.
- Property Type
The type of property you have will be a key factor when the assessment is carried out. Apartments and houses offer different features including access to a garden and balcony.
- Number of Rooms
The number of bedrooms, bathrooms and living areas will obviously affect the price of the property.
- Aspect
The direction the property is facing can make or break for a house. South-west is the most desirable aspect for a property as it offers maximum light.
- Parking
Access to on-street, underground or surface-level parking is another factor that many property buyings have at the top of their list. It most definitely has an impact on the overall value of a property and is considered when making the appraisal.
- BER
Energy ratings provide a score which represents how much energy your property is consuming and how energy-efficient the home is. Some factors which contribute to a BER score are heating systems, lighting/wiring, glazing, ventilation and insulation. Typically older homes will have a lower rate ( scale A-G; G being the lowest score). Often older houses choose to update their windows in order to bring up that score in advance of letting or selling.
There are many other components which make up an official property valuation. To find out more about our valuation service, click here to book an appointment.
We understand that this could be a stressful situation for you. Let us take away one part of the process.
