Considerations

Considerations during your Deferred Payment Agreement

During this time you will need to:

• Pay for the upkeep and maintenance of your home - we will need evidence this has been completed every year
• Keep your home insured and provide us with annual buildings insurance documents
• Pay for utility bills
• Ensure your home is secure
• Let us know who would deal with your estate in the event of your death

Revaluing your home

We may need to re-value your home during your Deferred Payment Agreement. This might happen:

• Once your loan reaches 50 percent of what we can lend you
• If regular maintenance of the property has not been completed you would need to pay for the cost of any further valuation

If you can't make your own decisions

If someone lacks capacity to make decisions and is unable to apply for a Deferred Payment Agreement on their own then someone else can make decisions on their behalf.

Find out more about what to do if someone can't make their own decisions.