Using equity release to clear debts

Clearing credit cards, loans or other debts is a common reason people look at equity release. Replacing a high interest debt with a lower rate can feel like an obvious win, but there is a serious catch. This tool shows the release needed and the long run cost, alongside an honest warning about what changes when you secure debt against your home.

Debt you want to clear (£)

Current rate on that debt (% per year)

Equity release rate (% per year)

Over how many years