Paying Debts With Equity Release: Is It Wise in 2025?
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- The process for paying debts with equity release involves applying for a plan, getting approval, releasing a portion of your home's value, and using the funds to pay off debts.
- You can use it to clear debts, offering a means to manage financial obligations in your later years.
- While it can alleviate financial stress, risks include a potential reduction in your estate value and a possible impact on your entitlement to means-tested benefits.
- The best plans for debt repayment are typically those with competitive interest rates, flexible repayment options, and robust protections for you as a borrower.
- Using it can impact inheritance by reducing the overall value of the estate that you will leave behind for your beneficiaries.
When you owe more than you own, it can be difficult to find a way out and you might wonder if paying debts with equity release is a good idea.
Debt can make everything seem like an uphill battle - and all the while, it continues to grow.
Fortunately, there are options available that might not have been on your radar before.
One such option is equity release.
In This Article, You Will Discover:
Our dedicated editorial team has combed the market to bring you everything you need to know about equity release. What's on the cards today?
How unlocking funds could help you pay off your debts.
Let's find out now!