PORT MELBOURNE VIC
Wintringham
Wintringham Hostel Port Melbourne - 79 Swallow STREET PORT MELBOURNE VIC 3207
79 Swallow STREET PORT MELBOURNE VIC 3207
Beds: 35
Category: Charitable
Provider: Wintringham
Do you need to find respite or permanent placement at Wintringham Hostel Port Melbourne or another aged care home in the PORT MELBOURNE area?
We have helped many families through this difficult time and have detailed knowledge and experience to help you with this important decision about Wintringham Hostel Port Melbourne.
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.
From 1 October 2025, the Maximum Permissible Interest Rate (MPIR) has reduced to 7.61% pa
Because the Refundable Accommodation Deposit (RAD) price approval threshold (the "capped price") has increased to $758,627 from 20th September 2025, RAD's have risen significantly across most aged care homes. For new residents, any reduction in the MPIR is welcomed, as it lowers the cost of paying via Daily Accommodation Payments (DAP's).
From the 1st November 2025, the Refundable Accommodation Deposit (RAD) will now have a retention of 2% of the paid RAD (up to a maximum 10% across 5 years) from the date of the first payment. It’s interesting here that it is based on what RAD you have paid. We are expecting that some clients may pay a small/nominal RAD/RAC at entry in order to “kick-start” the 5 year clock. This will limit the total retention fee exposure over a client’s lifetime in care. Smart move.
The Maximum Permissible Interest Rate (MPIR) which is applied to the unpaid RAD will now be indexed to CPI twice a year (similar to how the Daily Care Fee moves in line with the age pension). This is going to be hard to calculate as there will now be an indexation factor to apply to the original MPIR which will be based on the date in which the client entered care.
More about RAD, DAP & MPIR ...
First select the RAD Amount that has been agreed to:
Agreed RAD: $
Use the slider to see how your daily accommodation payment (DAP) will change depending on the lump sum component of the RAD paid. The daily payment is based on the current maximum permissible interest rate (MPIR) of 7.61%.
% |
Lump Sum Paid: $
DAP :$20.20 pd
Interest rate (MPIR) is: 7.61%pa
(from 1/10/2025)