"As TakingCare has highlighted, this can be extremely expensive, and we are finding that people are looking towards housing equity for support."
He also pointed to research from Key Later Life Finance, carried out earlier this year, which showed over 64 per cent of people aged over 55s would prefer to receive care at home and over a third (35 per cent) of over-55s say the pandemic has made them carefully consider their later life care options.
Helping people stay independent for longer is a key way for homeowners to save on care home costs according to TakingCare’s managing director Steve Gates who has said fall prevention is a central element of this.
According to TakingCare one in three adults over 65 will have a fall this year and 50 per cent of those that fear falling go so far as to limit their social activities - which has an impact on confidence and independence.
Falls are still the number one reason that older adults visit A&E.