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Our clients have been approached by a friend (Miss P), a single lady aged 60, who wishes to divest herself of assets, in this case her residential home, in order to avoid it being 'lost' to fund long-term residential or nursing care costs.
Our clients have been approached by a friend (Miss P) a single lady aged 60 who wishes to divest herself of assets in this case her residential home in order to avoid it being 'lost' to fund long-term residential or nursing care costs.
Miss P has proposed that our clients purchase her house at its current market price (£220 000) and for P to have a guaranteed tenancy thereof for her lifetime with the option of moving out if circumstances changed. In return P will make a lump sum payment representing ten years' rent i.e. £60 000 (at current market rent of approximately £500 per month). After the ten-year period the rent would be renegotiated annually and in the event of P vacating the property during the ten years she would not seek any repayment of the balance of the rent...
Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.
