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The latest harebrained idea to sway investors in to parting with their hard earned money may be attractive to those serious about planning for long term care. These schemes allow you to ‘buy’ a room in a residential care home as a buy-to-let investment for £35,000, with a 10% income guarantee and a contract for repurchase at the end of the 10-year term. Whether you can live in the room you have bought is another matter!agreement-303221_1280

As compared with purchasing your own buy to let property, such schemes are high risk since you are dependent on the operators of the scheme. Such investment schemes have failed in the past, and as the old saying goes – if it looks too good to be true, it probably is too good to be true. It certainly wouldn’t be part of any investment strategy I would recommend.

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