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If you are eligible for care and support from the City of London Corporation, you may be asked to pay something towards the cost.

To calculate any costs you would pay, we will ask you to complete a financial assessment, which will ask about any savings and regular income. This information will help us understand how much you can afford to contribute to the cost of your care and support.

You may be asked to contribute something towards the cost of your care and support services.

Download information on financial assessments and contributions (36KB)

How to manage your personal budget (this applies to non-residential care)

As part of your Care and Support Plan, we will draw up an individual budget which sets out exactly how much it will cost to meet the eligible care and support needs you have.

The individual budget will include any amount that the local authority is going to pay towards those costs. It will also set out any financial contributions you will make to your care and support.

Your individual budget can be managed in three ways:

1.By you – direct payment

You can look after this yourself in a specific bank account dedicated only to your Direct Payment and activities relating to your outlined needs in the Care and Support Plan. This means you will be responsible for ensuring the services are paid for on time and that you keep all your receipts together. We can offer advice and information about how to do this with confidence. Many people who think they cannot manage a Direct Payment can manage very well with some guidance and support.

2.By us – a managed individual budget (this applies top non-residential care)

In discussion with you, we find support that we believe meets the needs you have outlined in your Care and Support Plan. This means we will manage your allocated budget for you.

3.By a family member or organisation

We work with a third party organisation who can manage the individual budget on your behalf.

Deferred Payment Agreements (this applies to residential care)

Depending on your financial situation, there are a number of ways you may be able to cover your care costs by off-setting them against the value of your property.

A Deferred Payment Agreement is an arrangement with the City of London Corporation enabling people to use the value of their home to help pay care home costs. If you are eligible, the City of London will help to pay your care home bills on your behalf. You can delay repaying the City of London Corporation until you choose to sell your home, or until after your death.

You are eligible for a Deferred Payment Agreement if:

  • you are receiving care in a care home (or you are going to move into one soon)
  • you own or have part legal ownership of your home (unless your partner or certain others live there)
  • you have savings and investments of less than £23,250 (not including the value of your home).

The City of London Corporation charges interest on the amount owed for your care and charges an administration fee of £500 for setting up a Deferred Payment Agreement.

Who to contact

If you would like to talk to someone about paying for care and support services, contact the Adult Social Care Team:

Tel: 020 7332 1224 (9am-5pm, Monday to Friday)

Email: Adult Duty Team.

Adult Social Care Team

14 December 2015
Last Modified:
05 September 2019