Frequently Asked Questions

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How is a second house/property treated?

This relates to any property owned by the client except for their primary residence. The value of these additional properties will be ignored altogether in certain rare cases such as where it is occupied by a relative who is incapacitated or age 60 plus. Otherwise, whether let out, used as a holiday home, or unoccupied, it will be regarded as a capital resource and reduce the client's means-tested entitlement accordingly. The value of the property will be taken into account less any mortgage secured on it and 10% for the costs of sale.