Afin Bank
At AMM, we are pleased to be an exclusive launch partner of AFIN Bank.
Afin Bank has launched its first mortgage product ranges after receiving full approval by the PRA and FCA.
The lender, which offers both residential and BTL products, was created to support people from Africa and other foreign nationals with a valid UK work visa who struggle to gain access to mainstream lenders.
Afin’s research found that almost nine out of 10 Africans (87%) in the UK had been turned down for a mortgage.
Out of this cohort, 41% believed it was due to their visa status with 30% attributing this to a lack of UK credit history.
As a result, Afin’s products are designed with people from the African diaspora communities in mind.
Applications will be accepted from clients originating anywhere in the world, with minimum UK residency of just six months being considered.
The lender will also deploy flexible criteria about accepting deposits from overseas, subject to anti-money laundering checks, and capital raising will be allowed for debt consolidation, property investment, business purposes and tax bills.
AFIN Bank – thinking outside of the box to support your clients mortgage needs
At AMM, we are pleased to be an exclusive launch partner of AFIN Bank.
Afin Bank has launched its first mortgage product ranges after receiving full approval by the PRA and FCA.
The lender, which offers both residential and BTL products, was created to support people from Africa and other foreign nationals with a valid UK work visa who struggle to gain access to mainstream lenders.
Afin’s research found that almost nine out of 10 Africans (87%) in the UK had been turned down for a mortgage.
Out of this cohort, 41% believed it was due to their visa status with 30% attributing this to a lack of UK credit history.
As a result, Afin’s products are designed with people from the African diaspora communities in mind.
Applications will be accepted from clients originating anywhere in the world, with minimum UK residency of just six months being considered.
The lender will also deploy flexible criteria about accepting deposits from overseas, subject to anti-money laundering checks, and capital raising will be allowed for debt consolidation, property investment, business purposes and tax bills.
AFIN Bank – thinking outside of the box to support your clients mortgage needs
Key criteria strengths:
- No minimum credit score required
- Pragmatic, manual underwriting approach
- Minimum UK residency: 6 months
- Applicants with thin or no UK credit footprint accepted
- Clients can originate from anywhere globally (including Nigeria, Sierra Leone, Gambia, Ghana)
- Overseas deposits accepted*
- Dedicated 90% LTV products for qualified professionals – up to 6.5x income
- 100% capital raising available for debt consolidation
- Flexible capital raising options – including property investment, business purposes, and one-off tax bills
- ERC-free tracker products
Self-employed:
- 1 years’ accounts accepted
- Forecasted income accepted
- Net retained profit / Directors loan income considered
*Subject to AML approval
