Afin Bank is a specialist mortgage lender in the UK, launched to provide mortgages for Africans living in the UK. They are designed to address the unique financial circumstances of the African diaspora, who may have complex international income streams or financial histories that are often misunderstood by traditional UK high-street banks.
If you have seen a rate available from Afin Bank and wish to compare it against other lenders in the market, use our free mortgage sourcing tool below. For more information or if you’d like us to approach them on your behalf, simply click ‘Enquire now’ on your selected deal.
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Product Details
Who are Afin Bank?
Afin Bank provide a cultural and financial bridge for the UK's African community. They are a new lender that understands that many mainstream banks' automated, UK-centric systems are not equipped to handle the financial realities of people who have moved from or have strong ties with African countries.
Their entire model is built on a deep understanding of their target market and they use expert, manual underwriting to assess applications, allowing them to:
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Understand and verify income from various African nations
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Take a holistic view of an applicant's global financial profile
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Make fair, common-sense lending decisions where a standard UK bank's algorithm would simply say 'no'
What are they known for?
As a new lender, Afin Bank's reputation is being built on its specific expertise and its commitment to financial inclusion. Their services include:
Mortgages for the African Diaspora
This is their core, specialist focus. They have created a proposition specifically to help:
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UK residents with complex international incomes: Including those who receive all or part of their salary from an African country
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Recent arrivals to the UK: Helping those who have a strong financial history but lack a long UK credit footprint
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First-time buyers and home movers: Providing a vital route to homeownership for a community that has historically been underserved by the UK mortgage market
Cultural and Financial Expertise
Their underwriters and advisers understand the different financial systems, employment structures, and documentation found across the diverse economies of Africa, from Nigeria and Ghana to Kenya and South Africa.
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Pros and Cons of an Afin Bank Mortgage
Pros:
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Specialist Service: Provides a solution for a significantly underserved community
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Expert Underwriting: Every case is underwritten by a human who understands complex international income and financial histories that other lenders and algorithms don't
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Financial Inclusion: Their mission is to help people who have migrated to the UK to build a secure financial future there
Cons:
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Highly Niche: Their services are specifically designed for a particular demographic and are not suitable for the average UK borrower
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New Lender: As a brand new lender, they do not have a long track record in the market
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Higher Costs: As a specialist lender dealing with complex cases, their interest rates and fees may be higher than standard high-street deals
How to apply
For specialist lenders like these, the most common route is through a Mortgage Broker. A qualified mortgage adviser, particularly one who specialises in clients with international income or complex backgrounds, will be best placed to package your application and work with Afin Bank's underwriters.
If you would like us to submit a mortgage application on your behalf, either to Afin Bank or any other lender across the entire market, get started today with one of our knowledgeable brokers.