One million homes sold 'to fund care costs'

Research from the mutual revealed one in seven (15%) are clinging to the hope of inheriting property or cash from their parents to fund their own retirement. Three in every four people whose parents go into care now could face most of their inheritance eaten up by the associated costs. Over a million homes have been sold in the last five years to pay for long-term care costs and more than two million elderly people have had to use their savings to fund care. NFU Mutual personal finance specialist Sean McCann said: "Younger generations could be in for a long wait if they're banking ...