My mother took out an equity release scheme with Aviva 13 years for 81k.... with an interest rate of 8.5% compound, and an early repayment clause linked to gilts. She has realised that if she maintains this, in another 10 years, she will effectively be destitute as the interest will take ALL of the equity in her home, her only asset. She therefore wishes to repay it early and Aviva are now seeking, in addition to the exorbitant interest accrued over the years a 62k early repayment/payment clause... therefore to settle this debt, she must now repay 294k or thereabouts. She did not have any IFA advice at the time, and we have approached/complained to Aviva already but to no joy. Can anyone now assist us as to how we should proceed.. ... this penalty clause is exorbitant... it is said to compensate Aviva for what they stand to lose, as they look at the scheme lasting 28 years. This however is not true because even after 28 years they seek a repayment fee of 50% of the original loan (if the gilts maintain the same degree of fall as they have today), in my mother's case 40k... . after charging interest that will have accrued to over 700k! Any help/advice will be gratefully received. thanks