Repay Your Interest Only Mortgage – Using Retirement Mortgages – Lending Beyond Retirement Age …

By Chris Morgan | Published: 5th October 2018

Our friends at Compass Mortgages have been approached recently by a number of clients where their mortgage terms are coming to an end in line with their retirement. Many lenders refuse to continue mortgages past retirement age, making them unsuitable for the clients purposes.

We have met clients who feel pressured by their current lender and some have almost been placed in “breach of mortgage contract” by their  lender, because they have struggled to find a replacement product. We are here to assist and help in these circumstances.

Real Life Situations by Chris Morgan, Retirement Mortgage Expert

Names: John and Margaret, Ages 55 and 62, Approaching Retirement, Existing Self Certified Mortgage (coming to an end)

John and Margaret were worried about their Interest Only mortgage which still was outstanding on their property valued at £900,000. They took out a Self certified mortgage around 15 years ago and were not required to provide a repayment vehicle by the lender. This means they are short of options to repay this amount, as the end of term gets nearer.

We helped them draw £100,000 on a Retirement Mortgage to clear their £76,000 mortgage, so they could remain in their property and have a cash reserve to use as they choose. The new arrangement was an Interest Only Mortgage, which still has monthly interest payments, unlike Lifetime Mortgages which do not.

Client Quotes: 

“It is very important to us both that we are able to remain in the property, without the pressures of moving and changing social aspects of our lives. The former Interest Only Mortgage had become a burden to us, with the term ending we knew that something would need to be done”.

“We had looked at several options, including Lifetime Mortgages, but decided that because we have regular pensions coming in, it was best to pay the interest on a monthly basis and not allow it to roll up. This was best for us, even though the initial set up fees were higher”.

Compass Mortgages Expert Advice … 

Retirement Mortgages are an ideal way to repay an existing Interest Only Mortgage, especially for those that may have interest only mortgages coming nearing the end of it’s term, or may  have ongoing regular pension income to meet monthly Interest payments.

Retirement Mortgages have to be arranged through a qualified financial adviser, who holds the higher level mortgage qualification The Certificate of Regulated Equity Release. This exam covers retirement mortgages and lending into retirement, because lenders now offer highly specialist products.

Retirement Mortgages are different to Lifetime Mortgages as the first of these allows the mortgage holder to continue making monthly interest payments, where with the second there are no monthly repayments.

If you require more information on Retirement or Interest Only Mortgages, you can contact Compass Mortgages on UK 0845 474 3075 or International +44 1404 45397, email at enquiries@unusualmortgages.co.uk

There is a completely different website for those looking for “Lifetime Mortgages” www.lifetimemortgage.expert Our Retirement and Lifetime Mortgage Expert Chris Morgan, can also be reached by email at enquiries@lifetimemortgage.expert

Chris Morgan’s full Biography can be read here …

http://lifetime-mortgage.expert/adviser-career-biography-chris-morgan/

Here is also a direct link to the Free Quick Guide …

http://www.lifetimemortgage.expert/assets/Lifetime_Mortgage%20_Expert_Guide.pdf

Please Note: 

Compass Mortgages are authorised and regulated by the Financial Conduct Authority. Registration number 497173. They charge a fee for arranging a Retirement Mortgage where there are continuing monthly payments. they have a minimum gross earning of £1295, where commission can be offset to reduce this overall amount payable.

Lifetime Mortgage Expert is a Trading Style of Unusual Mortgages who are authorised and regulated by the Financial Conduct Authority. Registration number 497173. The fees for arranging a Lifetime Mortgage, instead of a Retirement Mortgage are different.

They do not charge a broker fee for Lifetime Mortgages (without ongoing monthly payments) where the initial lump sum withdrawal is £50,000 or more (this is not including cash reserve) instead we receive a commission from the mortgage lender.

If you wish to draw less than £50,000 we may charge a small fee to ensure a minimum total earning of £995. Please contact us for a specific quotation. In the Lifetime Mortgage Survey 2018, the average broker fee being charged by a financial adviser for arranging a lifetime mortgage was £1281 and the largest fee charged was £2395.

HAPPY PRIDE SEASON … SUMMER 2018 … LGBT Insurance Survey 2018

By Chris Morgan | Published: 21st May 2018

Our friends at Compass would like to take the opportunity of wishing everyone a very happy Gay Pride season. We feel that it’s sometimes important to remember people that have struggled and fought for the freedom, we are all able to enjoy in these more modern times and also take time think about people that are still living in repressed countries.

In particular we should remember the people that took part in the Stonewall Riots in New York on 28th June 1969, which was the defining moment that marked the start of the gay rights movement around the world. Throughout this summer in to across the UK there will be Pride Festivals in more towns and cities than ever before.

Here are some of the UK Pride cities for 2018 – Belfast, Blackpool, Birmingham, Brighton, Bristol, Bournemouth, Cardiff, Cornwall, Coventry, Doncaster, Eastbourne, Edinburgh, Exeter, Exnouth, Glasgow, Leeds, London and Manchester, Newcastle, Oxford, Plymouth, Reading, Southampton, Totnes will all be celebrating their Pride!

LGBT INSURANCE SURVEY 2018

Compass, the Gay Mortgage and Insurance advisers have today published their latest survey into the insurance needs of the LGBT Community. The research measured the average amount of Life Assurance currently being taken out by Lesbians, Gay Men, Bisexuals and Transgender people, including policies taken out by LGBT people living with HIV.

The current average Life Assurance plan that is taken out by the LGBT community has marginally decreased with the sum assured now £173,051. In a previous survey it was established that 76%* of Life Insurance plans taken by the LGBT Community were for the purposes of protecting a Mortgage and 24%* for Family and Partner protection.

Chris Morgan the Lead Financial Adviser at Compass Mortgage and Insurance Services, www.compassindependent.co.uk said …

‘This year the LGBT Insurance Survey has established that the amount of Insurance being taken out by the gay community has decreased slightly from £178.507* to £173,051*. This figure seems to have remained fairly constant since the introduction of new underwriting rules that guaranteed Equality for Gay Men in 2005”.

Chris continued …

‘In last year’s survey we establishing that the average term at outset of an LGBT Life Insurance was 19.2 years, with the longest policy surveyed being for 40 years. This makes a great deal of sense as the majority of policies are taken by LGBT people for Long Term Family Protection and Mortgage purposes’.

The LGBT Insurance Survey has been running since 2009 and was initially focused on monitoring the amounts of Life Insurance being taken out by LGBT Consumers. More recently the survey has researched the changing financial needs of the LGBT Community and this year there has once again been a particular focus suitability of amounts of cover suitable for LGBT applicants.

Compass is able to arrange Mortgage Life Assurance, Mortgage Life Insurance, Critical Illness Cover and Income Protection for gay men and women, Bisexuals and Transgender clients. They are also specialists at finding Mortgages and Life Assurance for people living with HIV. They can be contacted on 0845 474 3075.

Compass our sponsors are the UK’s leading Lesbian, Gay, Bisexual, Transgender Financial Advisers, offering advice on Gay Life Assurance, Gay Life Insurance, Gay Mortgages, HIV Life Assurance, HIV Life Insurance, HIV Mortgages.

For more information about these services please contact Compass by phone 0845 474 3075. Email Enquiries@compassindependent.co.uk or visit us online at www.compassindependent.co.uk

Average HIV Life Assurance 2018 ……

By Chris Morgan | Published: 7th March 2018

News from our friends at Unusual Risks, if you are living with HIV, they will be able to assist you in finding Life Assurance and Life Insurance. Chris Morgan the lead financial adviser at our sponsors Compass and Unusual Risks has been advising the LGBT and HIV Communities for 20 years.

Unusual Risks, the medical financial advisers have today published the results of their annual research into the average and sum assured of Life Assurance that HIV Positive men and women are insuring themselves for. Currently HIV Positive people who are taking out Life Assurance in the UK are insuring themselves for an average of £125,933.

In previous survey’s Unusual Risks have looked closely at the average term for a Life Assurance being taken out by someone living with HIV. The average term for policies taken out between 2009 and 2013 was only 10 years, where with policies taken between 2014 to 2018 it is now possible to obtain a term of between 15 and 25 years.

Chris Morgan, Lead Financial Adviser of Unusual Risks, Mortgage & Insurance Services said, 

‘The average sum assured has remained fairly stable for HIV Life Assurance over the last few years at between £125,000 and £130,000 as the products have become established and premiums have remained stable. This is due to there being several product providers that now offer Life Insurance to people living with HIV’

‘Due to the complex nature of the underwriting of HIV Life Assurance and the range of different policies, premiums and terms available it is advisable to seek specialist professional advice before taking out HIV Life Assurance. It is not a product that can be bought instantly and directly via online money and insurance websites’

The terms being offered by Life Assurance providers for people with HIV have gradually been improving over the last few years and one of the areas where there have been significant improvements has been the length of policies offered, with the majority of new policies now being offered are for between 15 and 25 years in line with applicants Mortgages.

Unusual Risks always research the “Whole of Market” for each applicant and have market leading specialist knowledge that allows them to compare all HIV Life Assurance products. Mainstream brokers and Money websites simply do not have the necessary knowledge to give “Best Advice” in this field. Their lead financial advisers have been advising people living with HIV for almost two decades.

Our sponsors Compass are the UK’s leading Lesbian, Gay, Bisexual, Transgender Financial Advisers, offering advice on Gay Life Assurance, Gay Life Insurance, Gay Mortgages, HIV Life Assurance, HIV Life Insurance, HIV Mortgages.

For more information about these services please contact Compass by phone 0845 474 3075. Email Enquiries@compassindependent.co.uk or visit us online at www.compassindependent.co.uk

Chris Morgan’s “Money Matters” Finance Column – Spring 2018 …

By Chris Morgan | Published: 24th January 2018

Chris Morgan is the UK’s leading Gay Financial Adviser, his “MONEY MATTERS” HIV & Finance Column is now available online. His column now has a syndicated readership of 20,000 across HIV organisations in the UK.

The column will run alongside the ongoing “Money Matters” HIV & Finance Seminars that will be starting this Spring in London (Friday 9th March) and Manchester (Friday 6th April).

These seminars are open to Peer Support Mentors and Service users interested in learning more about HIV & Finance.

His column can be found here http://unusual-risks.co.uk/?page_id=848

Our sponsors Compass are the UK’s leading Lesbian, Gay, Bisexual, Transgender Financial Advisers, offering advice on Gay Life Assurance, Gay Life Insurance, Gay Mortgages, HIV Life Assurance, HIV Life Insurance, HIV Mortgages.

For more information about these services please contact Compass by phone 0845 474 3075. Email Enquiries@compassindependent.co.uk or visit us online at www.compassindependent.co.uk

Gay & LGBT Mortgages … Hot Mortgage Topics 2017

By Chris Morgan | Published: 4th December 2017

2017 has seen many changes to the Mortgage Market in the UK, in particular to the types of mortgages available and the way that products are distributed. Since the end of the last recession there have been continued and relentless changes to mortgage criteria and the rules that govern mortgage lending.

None of these changes have been kind to consumers, with many groups of borrowers effected in their ability to raise finance and access mortgage products. This has all been very deliberate to restrict mortgage lending by banks and building societies, to firstly recapitalise, to grow their balance sheets and then generate profits.

Here’s some of the recent types of mortgages that have most definitely been effected by new government legislation and mortgage lenders criteria changes. You’re unlikely to find these types of Mortgage Finance on the high street anymore.

ADVERSE CREDIT

Borrowers with any kind of previous arrears, defaults, County Court Judgments (CCJs), repossession, bankruptcy or voluntary arrangements on their credit file are likely to find mortgages particularly difficult to obtain. The major high street lenders have lost interest in providing mortgages to this group of people and they should approach a specialist mortgage broker for advice.

BUY TO LET 

Since government changes to tax legislation Buy To Let mortgage criteria has been particularly tricky for both new and existing landlords. Some landlords are finding it difficult to draw their existing Equity for repairs to properties or to grow their portfolios. Once again the high street lenders are unlikely to offer finance and landlords should seek advice from a specialist broker.

RETURNING EXPATS

For people returning to the UK from abroad it has become very difficult for them to obtain mortgage finance, with most lenders these days using electronic credit scoring, which requires two or three years UK address history. Borrowing for this group of people has almost come to a halt, but thankfully there are some options available by taking specialist advice.

These are just some of the Mortgage types where our friends at “Compass Mortgages” can be of use to Gay & LGBT borrowers looking for finance, in our next blog article we will look at “The Future 2018”, and what this might mean for Debt Consolidation, Specialist Mortgages and Self Employed Mortgages.

Compass Mortgages offer a 15 minute free mortgage assessment over the phone for anyone that has been turned down for a mortgage elsewhere. They will confirm if the decision you were given is correct and assess your options across 70 lenders on their manual research list, from which they tailor bespoke solutions for our clients.

If you have been turned down for a mortgage or are worried about approaching lenders due to the way you have been treated in the past, why not give Compass a call. Within 15 minutes they will know if your hopes and aspirations are a reality, with a sound opinion from the most experienced mortgage broker in the United Kingdom at placing “Gay & LGBT Mortgages”.

Our sponsors Compass are the UK’s leading Lesbian, Gay, Bisexual, Transgender Financial Advisers, offering advice on Gay Life Assurance, Gay Life Insurance, Gay Mortgages, HIV Life Assurance, HIV Life Insurance, HIV Mortgages.

They are also the UK’s leading experts at planning Life Assurance and Mortgages for LGBT and Alternative Families and are able to assist LGBT people looking for advice on their Pensions and Investments.

For more information about these services please contact Compass by phone 0845 474 3075. Email Enquiries@compassindependent.co.uk or visit us online at www.compassindependent.co.uk

GAY Life Assurance and GAY Mortgage Advice …

By Chris Morgan | Published: 16th October 2017

Our friends at Compass are the UK’s leading firm of financial advisers and that are dedicated to looking after the Gay, LGBT and HIV communities. Their lead financial adviser Chris Morgan has been advising LGBT and people living with HIV for nearly 20 years and is well known for his campaigning work fighting against discrimination.

He has led an ongoing 20 year campaign which has resulted in equality within Life Assurance products for the gay community and the availability of Life Assurance for people living with HIV.

LIFE ASSURANCE, CRITICAL ILLNESS COVER, INCOME PROTECTION

Gay men have been able to access Life Assurance products on equal terms since 2005, however, there sometimes can still be requirements around trust documentation and HIV testing on larger policies that still require specialist advice and guidance.

It’s most likely that Gay men will have more insurable interest and financial needs in the areas of Critical Illness Cover and Income Protection, than Life Assurance. No firm of financial advisers in the UK has more experience and knowledge of looking after Gay and LGBT clients than Compass.

MORTGAGES

Compass have been arranging Mortgages for the Gay, LGBT and HIV communities for nearly two decades and they have built vast experience of the way that Gay couples structure their finances. Sometimes LGBT relationships operate differently in regards to finance and we can assure you there is not a situation they will not have seen before.

Their lead financial adviser has advised literally thousands of gay clients to raise mortgage finance and helped them to buy their homes. Recently they have seen a number of LGBT clients returning to us to move home or remortgage to consolidate their loans and debts.

COMPLEX MORTGAGE SITUATIONS

Compass Mortgages are here to help!

Complex Mortgage situations can arise due to a variety of reasons and these are the main “Complex Mortgage” areas which they can offer our advice for LGBT clients . Here’s a list of mortgage situations that we are experienced at arranging to applicants.

Adverse Credit Mortgages, Buy to Let Mortgages, Complex Mortgages, Debt Consolidation, Expatriate Mortgages, Landlord Mortgages, Let to Buy Mortgages, Multiple Mortgages, Professional Mortgages, Re Mortgages, Right To Buy, Self Employed Mortgages.

They are especially experienced at assisting people to find mortgages with Arrears, Adverse Credit, Bankruptcy Defaults, County Court Judgement’s and Late Payments on their Credit Record. We offer a free “15 Minute Mortgage Assessment” without obligation, if you are unsure if you can secure a Mortgage.

Our Friends Compass are the UK’s leading Lesbian, Gay, Bisexual, Transgender Financial Advisers, offering advice on Gay Life Assurance, Gay Life Insurance, Gay Mortgages, HIV Life Assurance, HIV Life Insurance, HIV Mortgages.

They are also the UK’s leading experts at planning Life Assurance and Mortgages for LGBT and Alternative Families and are able to assist LGBT people looking for advice on their Pensions and Investments.

For more information about these services please contact our sponsors Compass by phone 0845 474 3075. Email Enquiries@compassindependent.co.uk or visit us online at www.compassindependent.co.uk

Chris Morgan’s Gay & HIV FINANCE Column Relaunched …

By Chris Morgan | Published: 29th August 2017

SYNDICATION READERSHIP HITS 12,300 …

Chris Morgan’s Gay & HIV finance column’s have in the past been hosted by AXM, Gay Times, Pink Paper, Attitude, Bent Magazines, Positive Nation and most recently Baseline Magazine. Sadly Baseline Magazine is now no longer printed so Chris has decided to continue writing and offer his column for syndication to HIV charities and organisations across the UK.

The quarterly column is now available for use for newsletters, websites, blogs or magazines free of charge and can be accessed by contacting Chris Morgan by email chris@compassindependent.co.uk The syndication of the column will mean that people living with HIV will still be able to access free financial advice in written format.

To read his latest re-launch columns follow these links

HIV & FINANCE COLUMN – SPRING 2017 http://unusual-risks.co.uk/?page_id=770

HIV & FINANCE COLUMN – SUMMER 2017 http://unusual-risks.co.uk/?page_id=774

Our Sponsors Compass are the UK’s leading Lesbian, Gay, Bisexual, Transgender Financial Advisers, offering advice on Gay Life Assurance, Gay Life Insurance, Gay Mortgages, HIV Life Assurance, HIV Life Insurance, HIV Mortgages.

They are also the UK’s leading experts at planning Life Assurance and Mortgages for LGBT and Alternative Families and are able to assist LGBT people looking for advice on their Pensions and Investments.

For more information about these services please contact our sponsors Compass by phone 0845 474 3075. Email Enquiries@compassindependent.co.uk or visit us online at www.compassindependent.co.uk

LGBT Insurance Survey 2017 …

By Chris Morgan | Published: 23rd July 2017

“Happy Pride Season” – Birmingham, London Done With Brighton, Cardiff and Manchester Still To Come !!!  Special focus this year on the need for LGBT labelled financial products?

Our friends at Compass, the Gay insurance advisers have today published their latest survey into the insurance needs of the LGBT Community. The research measured the Average amount of Life Assurance currently being taken out by Lesbians, Gay Men, Bisexuals and Transgender people, including policies taken out by LGBT people living with HIV.

The current average Life Assurance plan that is currently taken out by the LGBT community has marginally increased with the sum assured now £178,507. Compass widened their survey this year to look at the average term that an LGBT person takes out Life Insurance with the result 19.2 years. The longest policy found in the survey was 40 years.

Chris Morgan the Lead Financial Adviser at Compass Mortgage and Insurance Services, www.compassindependent.co.uk Said …

‘This year the LGBT Insurance Survey has established that the amount of Insurance being taken out by the gay community has increased slightly to £178.507. This figure has remained fairly constant since the introduction of new underwriting rules that guaranteed Equality for Gay Men in 2005”.

Chris continued …

‘The second part of the survey was of particular interest with our research establishing that the average term at outset of an LGBT Life Insurance is 19.2 years, with the longest policy surveyed being for 40 years. This makes a great deal of sense as the majority of policies are taken by LGBT people for Long Term Family Protection and Mortgage purposes’.

‘We have noticed LGBT “Labelled” Life Insurance products being launched into the market with a short maximum term of 10 years and consumers should be aware that there are many more suitable options that exist, especially if they are looking to protect their families and mortgages in the longer term’.

The LGBT Insurance Survey has been running since 2009 and was initially focused on monitoring the amounts of Life Insurance being taken out by LGBT Consumers. More recently the survey has researched the changing financial needs of the LGBT Community and this year there has been a particular focus on the suitability of new LGBT “Labelled” Financial Products that have been introduced into the market place.

Compass is able to arrange Mortgage Life Assurance, Mortgage Life Insurance, Critical Illness Cover and Income Protection for gay men and women, Bisexuals and Transgender clients. They are also specialists at finding Mortgages and Life Assurance for people living with HIV. They can be contacted on 0845 474 3075.

Our sponsors Compass are the UK’s leading Lesbian, Gay, Bisexual, Transgender Financial Advisers, offering advice on Gay Life Assurance, Gay Life Insurance, Gay Mortgages, HIV Life Assurance, HIV Life Insurance, HIV Mortgages.

They are also the UK’s leading experts at planning Life Assurance and Mortgages for LGBT and Alternative Families and are able to assist LGBT people looking for advice on their Pensions and Investments.

For more information about these services please contact our sponsors Compass by phone 0845 474 3075. Email Enquiries@compassindependent.co.uk or visit us online at www.compassindependent.co.uk

Compass and LGBT Insurance Featured In Money Marketing …

By Chris Morgan | Published: 29th May 2017

Our friends at Compass the LGBT Financial Adviser have recently been featured in Money Marketing the leading financial magazine.

The feature debates the need for specialist Protection advisers in the LGBT Community and of course Compass came out very favorably in this feature …

These are some of the quotes that were included from their lead financial adviser Chris Morgan

“Specialist LGBT advice firm Compass Independent founder and Unusual Risks Mortgage & Insurance Services Chris Morgan campaigned for decades to remove ‘the stigma and hard-line discrimination’ the LGBT community faced from the insurance industry. “It’s been a long process that I’ve been at the forefront of. Insurers don’t discriminate against gay people now. They used to but that ended in 2005,” he says”. 

Morgan  has seen a fair number of providers with specialist products for the LGBT community come and go over the years. 

“They don’t last because the products they offer don’t generate the volume they need quickly enough for them to survive,” he says. “In the past the products have generally been pension and investment products which haven’t taken off.”

“White labelling products as LGBT ‘because they have a few bells and whistles designed to appeal to gay people’ does not make them more suitable than anything else in the wider market, says Morgan”.

They also quoted some of their recent research into the Insurance needs of the LGBT Community and to be careful if buying Life Insurance to check that you have the best product available from the whole of the market.

“According to the last survey in 2016 by Compass, 76 per cent of life policies taken out by LGBT people were intended to cover a mortgage – normally 25 years – and 24 per cent were taken out to cover families over the long-term – that means possibly children to the age of 21 or 23”.

“Ten-year term assurance policies appear to be unsuitable for the purpose. If a 10-year term was the only option in the market it would be something the adviser would have to recommend but there are scores of policy options with a maximum term of 40 or 50 years.” 

Morgan thinks LGBT customers are better served by specialist advice rather than specialist products.

“By all means seek out specialist financial advice, as the adviser will understand the LGBT family unit, relationships, financial needs, civil partnerships, gay marriage and concerns for privacy and discretion around health in relation to HIV”.  

“They will have access to the whole market and to the very best products available to meet client need”.

The full feature article can be read here, including all of the quotes above.

https://www.moneymarketing.co.uk/issues/13-april-2017/lgbt-clients-need-specialist-protection-advisers

Our sponsors Compass are the UK’s leading Lesbian, Gay, Bisexual, Transgender Financial Advisers, offering advice on Gay Life Assurance, Gay Life Insurance, Gay Mortgages, HIV Life Assurance, HIV Life Insurance, HIV Mortgages.

They are also the UK’s leading experts at planning Life Assurance and Mortgages for LGBT and Alternative Families and are able to assist LGBT people looking for advice on their Pensions and Investments.

For more information about these services please contact our sponsors Compass by phone 0845 474 3075. Email Enquiries@compassindependent.co.uk or visit us online at www.compassindependent.co.uk

LGBT Insurance Discrimination Research Statistics …

By Chris Morgan | Published: 10th April 2017

Our friends at Compass were recently asked to comment on statistics that were released into the LGBT Community. The Financial Times – FT Adviser, approached them for an opinion because they are aware that they were the people that ended “hardcore” discrimination towards the LGBT Community by the UK Life Insurance Industry in 2005.

They have since been helping LGBT people source the best mainstream products for their Mortgage, Life Assurance, Income Protection and Critical Illness Cover needs. It’s apparent that after over a decade of peace between the LGBT Community and the UK Life Insurance Industry, that there is a movement to give an impression that serious “Discrimination” still exists towards LGBT people.

Comapss find it interesting that these people are using “2017 Discrimination” issues in an attempt to sell LGBT packaged and labelled products.Some of the recent statistics provided to them by the FT Adviser carried no source of sample size, but they feel they raise important issues around the way financial services are marketed to LGBT People.

  • 79% of the UK’s LGBT Population would change the way insurance companies treat their community
  • 37% of the LGBT Insurance Community do not have any form of insurance at all
  • 39% would change call centre language surrounding the assumption of a partner’s gender
  • 34% would like providers to recognise and celebrate LGBT as an important part of the community by depicting real LGBT people in adverts and promotional materials
  • 23% would like to see the LGBT community and its interests represented throughout the organisation
  • 22% would like to see their insurer actively work to end discrimination and prejudice based on sexuality

They find it concerning that the press release and  statistics viewed did not specify the types of insurance that are covered by the survey, or the sample size or carried any regulatory warnings, which are both compulsory under Financial Conduct Authority Rules.

Compass would like to point out that for decades the LGBT Community were treated terribly by the UK Life Insurance Industry and serious issues around Compulsory HIV testing, Personal Questioning, Unequal Premiums, Speculative Underwriting based upon occupation, gay men added to the impaired Lives register and they worked tirelessly to removed such backward and discriminatory practices.

If you are an LGBT person looking for Life Insurance, Critical Illness Cover, Income Protection or a Mortgage, then pay special attention to the premiums, costs and terms being offered by the product provider. For example, instead of settling for a 10 year LGBT term assurance policy, seek independent financial advice and secure yourself up to 40 or 50 year term assurance.

Just because a financial product is labelled LGBT, does not mean to say that is it the best available in the market.

Our sponsors Compass are the UK’s leading Lesbian, Gay, Bisexual, Transgender Financial Advisers, offering advice on Gay Life Assurance, Gay Life Insurance, Gay Mortgages, HIV Life Assurance, HIV Life Insurance, HIV Mortgages.

They are also the UK’s leading experts at planning Life Assurance and Mortgages for LGBT and Alternative Families and are able to assist LGBT people looking for advice on their Pensions and Investments.

For more information about these services please contact our sponsors Compass by phone 0845 474 3075. Email Enquiries@compassindependent.co.uk or visit us online at www.compassindependent.co.uk

  • About Us

    Pink Finance was first launched in the year 2000, as the UK’s first gay finance magazine. Over the years we have covered many discrimination issues affecting gay, lesbian, bi sexual and transsexual people.

    Our articles cover issues such as Gay Life Assurance, Gay Life Insurance, Gay Mortgages, Gay Income Protection, Gay Critical Illness Cover, HIV Life Assurance, HIV Life Insurance and HIV Mortgages.

    We also include feature articles on planning Life Assurance and Mortgages for LGBT and Alternative Families, along with articles with subjects such as Pensions and Investments for LGBT people.

    Our editor, Chris Morgan was part of the consultation group that led to the introduction of HIV Life Assurance and HIV Life Insurance for people living with HIV.

    He was a consultant to the Association of British Insurers for over five years and served on their HIV Insurance Working Group.

    Chris has recently rejoined the ABI working group, assisting them with their latest Best Practice guidelines and agreeing to write a new HIV and Insurance consumer guide.

    Our sponsors Compass have a long history of supporting worthy causes within the gay and HIV communities. Currently they are supporting NAM AIDSMAP who work to change lives by sharing information about HIV and AIDS.

    They believe that, wherever you are in the world, having independent, clear and accurate information is vital in the fight against HIV and AIDS.

    Compass Mortgage & Insurance Services is Authorised and Regulated by the Financial Conduct Authority.