LGBTQ+ homebuyers face industry barriers as brokers push for inclusive change

In mortgage brokering, relationships are everything. Yet, the industry has been slow to prioritise client comfort, particularly for LGBTQ+ individuals. For mortgage professionals like El Deane (pictured left) and Andy Johnson (pictured right), creating a welcoming and inclusive space isn't just a preference - it’s a necessity.

"I really enjoy making inaccessible things accessible and translating, so people have a full understanding," Deane said. "We work together to ensure the best outcome for folk, and that feels nice to be involved in that process and to help people towards their home."

Johnson, an ex-military professional, has always worked closely with LGBTQ+ clients.

"The mortgage industry, like a lot of finance, is in a very old, staid way of doing work. You have to keep up with the times," he said. "[LGBTQ+ clients] need to have a safe space where the broker they're dealing with has no concerns, there's no bias against anybody, and they're completely comfortable."

However, the financial services industry still falls short in many ways.

"The big-hitting organisations are managed by folk that perhaps were doing pretty well in the 80s and 90s, and those biases, those prejudices, those ideas haven't changed," Deane said. "Even if there’s no explicit homophobia, it’s those little looks of confusion where trust is broken."

That distrust can make an already complex process even more daunting.

"I've had clients who've been to other brokers where the brokers have gone, 'You're married? But how can you be married?'" Johnson said. "It’s like, sorry, are you living under a rock or something?"

For mortgage brokers to truly serve their clients, inclusivity must be a priority from the start. Even small indicators can make a difference.

"It's about engaging in good, inclusive practice - asking people's pronouns, making no assumptions," Deane said. "If businesses are really intent on improving their practices, then making it clear that they are a safe space is key. Not greenwashing or pink washing but actually following through."

"A flag or an indication on a website matters," Deane said. "Sometimes, looking at things without a flag makes LGBTQ+ clients feel like, 'That’s not for me’."

Lenders, however, have been slow to evolve. Many still lack basic accommodations for non-binary or transgender applicants.

"Some lenders don’t even allow for gender-neutral titles in their drop-down menus. And the reason? It costs them money to change their systems," Johnson said. "But if one in 10 people identify as LGBTQ+, that’s 10% of your client base you’re potentially alienating."

Even when initiatives like First Brick Housing aim to address LGBTQ+ housing insecurity, the lack of lender support remains an obstacle.

"Some of the schemes like First Brick aren’t being taken up by all lenders and developers, so it's really difficult," Johnson said. "Unless it's government-led, it's hard to enforce."

Beyond policies, a broker’s approach is what truly shapes the client experience.

"Avoiding assumptions is key," Deane said. "Even if lenders aren’t fully inclusive, brokers should prepare clients for the journey. A heads-up, like ‘Santander is going to ask for your title, and I'm sorry, but these are your three options’ - that kind of hand-holding matters."

For Johnson, advocacy means going beyond just getting the deal done.

"I've had clients moving locations, and I’ve had to be honest - some areas might not be as welcoming to LGBTQ+ individuals as others," he said. "I meant it with love and trust, just to make sure they made the right decision. It’s our job as brokers to look after them, fight with lenders if necessary, and ensure they feel safe."

"The difference between a good broker and a bad one isn’t just ticking boxes. It’s about taking the time to understand the client, asking the right questions, parking your biases, and making sure they get the best outcome," Deane said. "That’s why we’re top of the list for LGBTQ+ clients."

At its core, mortgage brokering is about relationships, not just transactions.

"I think a lot of people within financial services put the pound signs before the people," Johnson said. "But funny enough, if you put the people first, the pound signs will come."