A debt specialist from financial website Think Money sees an increasing role for equity release in the recession.
The specialist said that the present financial climate made it "particularly important" for debtors to seek solutions to their financial concerns.
Think Money’s comments follow the release of new research from Key Retirement Solutions, showing that equity release plans are attaining increasing popularity in the UK.
Overall take-up of equity release plans was found to have increased by 19 per cent over the third quarter – with around one-third of customers using the plans to pay off debts.
The Think Money expert added: "At a time like now, it is particularly important that people take steps to take control of their debts – and releasing equity is just one of the ways they may be able to do this.
"We would advise anyone who is struggling with their debts to consider all the alternatives that may be available to them."
Posted by Richard Planner
