Adequate security

7.1    Adequate security must be provided for the amount deferred.  This includes care costs as well as any associated interest or administrative costs and charges which have also been deferred. 

7.2    Where eligibility criteria are met, the council’s preferred adequate security is a legal mortgage by way of a first legal charge in favour of the council over property which the adult owns (either solely or jointly) as their only or main residence. 

7.3    The council must obtain written consent to the deferred amount being secured by legal mortgage by way of a first legal charge in favour of the council from all owners, or their representatives, and any other person who has a beneficial interest in the property before an offer of a deferred payment agreement may be made. 

7.4    Where adequate security can not be offered by way of a first legal charge in favour of the council, other forms of adequate security may be considered