Nursing home (Fair Deal Scheme) loan
Interest on late payments
Interest will be charged on any part of the loan that is paid after the due date. The due date is:
- twelve months after the date of death, for loan repayments made because the person in care died
- six months after the date of sale or transfer, for loan repayments made because the property or land on which the Charging Order exists is sold or transferred.
Interest is not charged from the due date of the loan repayment.
Date interest is charged from
For any payment made after the due date, interest will be charged from the:
- date of death, for loan repayments made because the person in care died
- date of sale or transfer, for loan repayments made because the property on which the Charging Order exists was sold or transferred.
The relevant accountable person or personal representative must act early to avoid interest charges.
Interest rate
The current interest rate is 0.0219% per day.