Christmas is notorious for being the most heart-warming but equally as expensive holiday of the year. The question is, exactly how are us Brits paying for it?

In new research by debt charity, StepChange, a third of Brits surveyed will be using credit to pay for part, or even all, of their Christmas spending this year. The charity also says a further 10 million are teetering on the edge, struggling to keep up with rising costs.

There are many ways in which to adopt a budget Christmas, from the gifts we buy to the energy we use.

One of the easiest ways is by unlocking the money tied up in your property. It is one way to not only pay off outstanding debt but also plan for those important times ahead.

There are many different equity release schemes available that allow older homeowners to access their property wealth without having to move out. Some offer the flexibility to make regular interest repayments, some permit you access to the money as and when you need it and others will allow you to pass on a guaranteed inheritance.

So, now is the time to start looking at your options. And what better a time knowing that the range of equity release product options has grown 23% year-on-year, according to the Equity Release Council’s latest Spring Report.

Take a look at UKeo’s Equity Release Guide to start you on your way before the New Year.