If you are struggling to make ends meet, there has always been the option to sell up and find a more affordable property, using the proceeds to clear debt and start afresh.

But not anymore: Rightmove.co.uk has found that increasingly desperate sellers are slashing asking prices for homes in England and Wales by 2.9% in an attempt to sell their home at all – and on an average home of £180,000 that could be as much as a £5000 cut.

The property website said sellers are recognising the need for more drastic action as the market slows even more severely. This is bad news for anyone who hoped to use their home’s equity as a means of improving their situation.

There is, of course, always another way. Using a secured loan to turn your equity into cash means you do not need to move. You do not need to lose long-earned equity and you do not need to suffer one more sleepless night.

Talking to an adviser will give you a better idea of what you need to do to unlock capital. But it will not mean losing money needlessly, and it certainly will not mean losing the home that you love.

To keep up with the latest news and comments on current financial affairs please visit the Secured Loan Blog.