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Self Funding Care Complete Guide to Paying for Your Own Care

Are you or a loved one facing the prospect of self-funding care? Understanding the financial landscape of care funding is crucial for making informed decisions that protect both your wellbeing and financial security. At Tier One Care, we provide comprehensive support for self-funders while guaranteeing the most competitive rates in the market—our “We Won’t Be Beaten on Price” promise ensures you’ll receive exceptional care without paying more than necessary.

Self-funding care doesn’t mean navigating this complex journey alone. Our expert team is here to guide you through every step, ensuring you receive high-quality, personalized care that meets your unique needs while maximizing your financial resources.

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What is Self-Funding Care?

Self-funding care refers to paying for your own care costs when your savings, income, and assets exceed the thresholds set by your local authority. As of April 2025, in England, if you have capital above £23,250, you’ll typically be responsible for covering the full cost of your care.

The financial assessment process conducted by local authorities evaluates:

Your savings and investments
Your income, including pensions and benefits
Your assets (for care home placements, this usually includes your property)

Each part of the United Kingdom has different thresholds for care funding:
(When self-funding, you have greater control over your care choices, but it’s essential to understand all available options to make your money work effectively for you.)

Country

Upper Savings Threshold

Lower Savings Threshold

Our Approach to Self-Funded Care - We Won't Be Beaten on Price

At Tier One Care, we understand that value matters when you’re paying for your own care. That’s why we’ve built our service around a simple promise: We Won’t Be Beaten on Price. Our commitment to affordability never compromises the exceptional quality of care we provide.

Personalized Care Planning

Every individual has unique care needs and preferences. Our approach includes:

Comprehensive needs assessment to understand your specific requirements
Tailored care plans designed around your lifestyle and preferences
Regular reviews to ensure your care continues to meet your changing needs
Transparent pricing with no hidden costs

Experienced and Compassionate Caregivers

Our caregivers are the heart of our service:

Rigorously vetted and extensively trained professionals
Specialized training in conditions like dementia and Parkinson’s disease
Matched carefully to your personality and requirements
Supported by our dedicated management team

Comprehensive Range of Services

We offer a complete spectrum of care services for self-funders:

Personal care including bathing, dressing, and grooming
Medication management and administration
Meal preparation and nutrition support
Companionship and emotional support
Mobility assistance and fall prevention
Specialized dementia and palliative care
Live-in care as an alternative to residential placement

Understanding the Costs of Self-Funded Care

Home Care Costs

If you’re considering care at home, costs typically range around:

Approximately £20 per hour for a carer to visit you in your home
Around £650 a week for a live-in carer (this may be more if you require intensive care)

Our live-in care costs are comparable to care home fees but offer the significant advantage of remaining in your own home. For couples, live-in care is particularly cost-effective, as there’s only a small additional charge rather than paying double the price as you would in a care home.

Care Home Costs

For those considering residential care, typical costs in 2025 are:

Residential homes: Around £860 per week (providing help with everyday tasks and meals)
Nursing homes: Around £968 per week (providing 24-hour nursing care in addition to everyday support)

Remember that these figures can vary significantly depending on your location and specific care needs.

Why Choose Tier One Care for Self-Funded Care

When you’re paying for your own care, you deserve exceptional value without compromising on quality. At Tier One Care, we deliver:

Unbeatable Value: Our “We Won’t Be Beaten on Price” guarantee ensures you receive the most competitive rates for high-quality care
Personalized Support: Care plans tailored to your exact needs and preferences
Flexibility: Easily adjust your care package as your needs change
Peace of Mind: Fully regulated, CQC-compliant care delivered by trained professionals
Transparent Pricing: Clear fee structures with no hidden costs

Our commitment to quality is unwavering. Like other leading providers in the industry, we focus on:

Keeping people safe and happy in the comfort of their own homes
Providing one-to-one support through bespoke care plans
Supporting health, wellbeing, and independence
Delivering fully regulated home care services across the UK

Arranging Care as a Self-Funder

As a self-funder, you have two main options for arranging your care:

Arrange and pay for care yourself - You can choose your preferred care provider and establish a direct contract with them.
Ask your local authority to arrange care for you - They'll then bill you the cost. However, not all local authorities offer this service, and some may charge an administration fee.
Even if you're a self-funder, you're still entitled to:
A care needs assessment from your local authority
Information and advice about local services and care options
Help from the local authority to arrange your care and support in some circumstances

Financial Options for Self-Funders

Care Fees Annuities

A care fees annuity (also called an immediate needs annuity) is an insurance policy that provides a guaranteed income to cover care costs for life.
Benefits include:

Tax-free payments when paid directly to your care provider
Protection against running out of funds
Option to index-link to protect against inflation

Equity Release

For homeowners aged 55 and over, equity release allows you to access the value of your property without selling it:

Release a tax-free lump sum or regular income
Continue living in your own home
Various plans available to suit different circumstances

Deferred Payment Agreements

A deferred payment agreement is an arrangement with your local council which allows you to use the value of your home to pay for your care:

The council pays your care home fees for you
You delay paying back until you choose to sell your home, or until after your death
This means you won’t have to sell your home during your lifetime to pay for care home fees

Benefits and Entitlements

Even as a self-funder, you may be eligible for certain benefits:

Attendance Allowance for those over State Pension age
Personal Independence Payment (PIP) for those under State Pension age
These benefits aren’t means-tested and can help offset care costs

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Frequently Asked Questions

What happens when my savings run out?

If your savings fall below the threshold (£23,250 in England), you should contact your local authority approximately three months before reaching this point. They’ll conduct a financial assessment to determine your eligibility for funding support. You may qualify for partial or full funding depending on your circumstances.

Can I stay in my current care arrangement if I become eligible for local authority funding?

If you become eligible for local authority funding, you may be able to stay in your current care arrangement. However, if your care costs exceed what the local authority is willing to pay, you might need a third-party top-up. This is where someone else, such as a family member, agrees to pay the difference between the local authority’s rate and your care provider’s charges.

Will my family be responsible for my care costs if my money runs out?

No, your family members are not legally obligated to pay for your care unless they have signed a contract agreeing to do so. The financial assessment only considers the assets and income of the person receiving care, not their relatives.

Is there a cap on care costs for self-funders?

Currently, there is no cap on self-funding care in the UK. The previous government had planned to introduce an £86,000 cap on personal care costs, but this has been scrapped by the current Labour government as of 2025.

For reliable health information, visit the NHS website.

We support Age UK in their mission to help older people.

We recognize and support the crucial work of unpaid carers. Like Carers UK.

Regulated by the Care Quality Commission.

Expert Financial Advice for Self-Funders

Making decisions about funding care can be complex. We recommend seeking independent financial advice from specialists in later-life care funding:

Society of Later Life Advisers (SOLLA): Specialists in financial advice for older people
Independent Age: Offers free advice on care funding options
MoneyHelper: Provides free, impartial money advice

Making the Right Choice for Your Care Needs

Don’t navigate self-funding care alone. Contact Tier One Care today for a free, no-obligation consultation. Our expert advisors will help you understand your options and create a care plan that maximizes both your quality of life and your financial resources.

We Won’t Be Beaten on Price – Call Now! Our team is ready to discuss your needs and help you make informed decisions about your care journey.

Contact Us

Phone: 0808 5012888

Email: support@tieronecare.co.uk

Head office

182-184 High Street North

East Ham

London

E6 2JA

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