The Pink Mortgage

Socially sensitive and it makes perfect financial sense

A pink mortgage, sometimes referred to as a rainbow mortgage or a gay mortgage, is (it hardly needs be said) a mortgage marketed to gay men, lesbians and same-sex couples. A relatively new phenomenon, these mortgages have become increasingly popular in recent years.
There is however, little or no difference between a pink mortgage and any of the other mortgage products currently available in the marketplace.

The pink mortgage arose from an awareness of two crucial factors.

Firstly, lenders realised that gay men, lesbians and same sex couples might feel a little uncomfortable when discussing their personal situation with a complete stranger, and might even feel as if they are being negatively judged in some way. By creating and marketing a pink mortgage, customers would be made to feel at ease when approaching a bank or building society, relaxed in the knowledge that their particular circumstances have been taken into account and that prejudice and stereotyping will not enter into the negotiations.

The second reason for the advent of the pink mortgage is purely financial. Gay men, lesbians and same-sex couples are considered 'good customers'. Often, they have a solid, steady income, high salaried employment and, without the monetary demands of children, a large amount of disposable income. Most banks and building societies are eager to lend to gay people. Some lenders are so eager to tap into this secure and lucrative market that they even offer slightly reduced rates as an enticement.

In fact, pink mortgages are now so popular that specialised pink mortgage brokers have even begun to emerge.