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Gay specialist introduces adverse-credit loan service

Compass, an IFA firm specialis- ing in advising gay clients, is introducing a mortgage service for customers with a poor credit history.

Clients who have had mortgage applications rejected by high-street banks will have access to competitively priced mortgages under the service.

Compass is also aiming the facility at clients with county court judgments and a history of defaults and arrears.

The firm, which estimates that 95 per cent of its clients are gay, also specialises in self-certified mortgages for employed and self-employed customers.

Managing director Chris Morgan is active in promoting equal rights in financial services for gay people and campaigned successfully to rem- ove the question on sexual orientation from life insurance application forms.

Morgan says: “We are able to help customers with poor credit history and provide mortgages at close to high-street interest rates. This has been achieved through our ability to research the whole marketplace and willingness to accept lower commission.

“Gay people with poor credit are now able to benefit from our knowledge of underwriting and special industry relationships. Adverse-credit mortgages are not offered by high- street banks so these customers are often treated unfairly.”

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