Care home debt will double in next 20 years

The cost of a four year stay in a care home is set to double over the next twenty years, leaving many relatives to cope with debt problems instead of an inheritance.

The government has moved to address concerns over care home debt and has announced an official review of the situation to ensure nobody is swindled out of their money or assets.

However, SAGA have commented that consumers need to seek independent financial advice in the meantime as the government is still playing catch-up.

In a statement from the group, they commented, "It is essential for people to seek professional financial advice as most people could protect an inheritance whilst still making funding provision for their long term care needs."