A charity has revealed that older people in Redhill contacting it for help last year owed an average of more than £35,000.

Leading debt charity Consumer Credit Counselling Service (CCCS) said newly released figures showed people aged over 55 in the town calling on it for free debt advice owed an average of £35,511.

The CCCS said the money was owed on credit cards, loans and other unsecured debts.

The charity said the situation may lead to increasing numbers of retired homeowners thinking about releasing equity from their homes as a means of repaying what they owe.

The cause said the continued squeeze on household budgets, and in particular, large rises in gas and electricity bills, have hit older people particularly hard.

It said many are struggling to keep up with their repayments.

But, the charity said, that in the last year, clients of CCCS's free equity release advice service unlocked an average of £29,983 of capital from their homes to help pay debts and meet other costs.

The cause said it expects to see the number of homeowners investigating this option to grow in the coming months.

CCCS equity release manager Tom Moloney said: "Equity release can be a good solution for some retirees looking to deal with problem debts, but it should only be considered as part of a long-term retirement plan.” He said: “I would urge anyone in the Redhill area who is in this situation to seek free advice from a debt charity such as CCCS, who will be able to explain all the available options and give the best advice tailored to your circumstances."

CCCS provides the UK's only free equity release advice service. The service is backed up by the charity's comprehensive debt counselling to ensure that equity release is only offered to those homeowners for whom it is the best solution. For more details call 0845 074 2987, or visit the website: www.cccs.co.uk/equityrelease