Equity release plans are tailored to meet the cash requirements of the retired people. They can make use of the idle value of their properties to get enough cash for their dream holidays. The house that they live in can provide them with all the cash for a new car or a new kitchen. Any one who is above 55 years of age and whose house is worth more than seventy thousand pounds is eligible for equity release. The retired person could approach a lender who is a member of the SHIP organization and get an equity release with the added protection aspects like “no negative equity guarantee”. The dealings would be fair and transparent and the borrower would have a choice to go in for a monthly payment from the amount sanctioned to him. This would ensure that interest is charged only on the disbursed amount and not on the entire amount sanctioned. A reverse mortgage calculator would help a retired person to know exactly how much cash could be received by reverse mortgaging his home. The reverse mortgage information provided by this calculator would help him decide how much he could spend and decide whether he could afford the cruise holiday that he had carefully planned for their wedding anniversary. Reverse mortgaging allows total peace of mind as there is no urge from any one to repay the loan.