HAMLYN TERRACE NSW
Catholic Healthcare Limited
Catholic Healthcare Our Lady of Loreto Gardens
1 Minnesota ROAD HAMLYN TERRACE NSW 2259
Beds: 60
Charitable
Service Provider: Catholic Healthcare Limited
From 1 April 2025, the Maximum Permissible Interest Rate (MPIR) is 8.17%
Since the RAD price approval threshold increased to $750,000 in January 2025, Refundable Accommodation Deposits (RADs) have risen significantly across most aged care homes. For residents, any reduction in the MPIR is a positive change, as it lowers the cost of paying via Daily Accommodation Payments (DAPs).
Aged care facilities continue to prefer residents who pay a RAD upfront rather than those on concessional arrangements. Since lower-tier RADs have increased, the provider-centric income gap between full-paying and concessional residents has widened.
For facilities with more than 40% concessional residents, the effective Refundable Accommodation Contribution (RAC) is now $311,791. However, with the average RAD now sitting well above this amount, it remains challenging for concessional residents to secure placements.
This trend will most likely continue, increasing pressure on those seeking supported placements in aged care homes.
More about RAD, DAP & MPIR ...
Do you need to find respite or permanent placement at Catholic Healthcare Our Lady of Loreto Gardens or another aged care home in the HAMLYN TERRACE area?
We have helped many families through this difficult time and have detailed knowledge and experience to help you with this important decision about Catholic Healthcare Our Lady of Loreto Gardens.
Don't be too hasty and make easy mistakes. Access our knowledge and experience prior to making a decision which will have a major impact on your elderly loved one.
First select the RAD Amount that has been agreed to:
Agreed RAD: $
Use the slider to see how the daily accommodation payment (DAP) will change depending on the lump sum component of the RAD paid. The DAP is based on the current maximum permissible interest rate (MPIR) of 8.17%.
| % |
Lump Sum Paid: $
DAP :$20.20 pd
Interest rate (MPIR) is: 8.17%pa
(from 1/04/2025)
Do you need to arrange an immediate placement?
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