Access Financial Services (Access FS) has announced a semi-exclusive distribution partnership with Afin Bank, a new lender set to launch later this year.
This collaboration will see Access FS distribute mortgage loans on behalf of Afin Bank, targeting under-served African and other foreign national diaspora communities in the UK.
Access FS is committed to addressing the needs of clients from under-served communities and 90% of Access FS’ advisers are from diverse backgrounds – opening up new communities, helping to drive the brokerage’s growth.
Afin Bank is poised to offer mortgages that meet the unique challenges faced by borrowers from other countries living and working in the UK, such as visa status or lack of UK credit history.
The lender will provide residential mortgages for first-time buyers, home movers and remortgages, as well as buy-to-let (BTL) mortgages for UK-based borrowers investing in UK property.
Nick Jones (pictured), the mortgage sales and marketing director at Access FS, said: “This is perfectly aligned with our expertise – lending to the African diaspora in the UK is a great fit for us. With high loan-to-value mortgages up to 90%, our mortgage and protection advisers are well-positioned to serve the community.
“Many professional Africans in the UK, working in the in sectors such as health or finance, for example, don’t get the support they need from mainstream lenders when they’re trying to buy a home: nearly nine in ten Africans in the UK say they have been turned down for a mortgage.”
He continued: “With Afin Bank, we’re working to change that. By partnering with them, combining their lending and our distribution – we even have protection advisers who work for the NHS – we’re going to help more Africans turn homeownership dreams into reality.
“And we can help Afin Bank shape and position the product – that was why Gable Mortgages chose to partner exclusively with us for their 100% LTV pilot.”
Afin Bank’s leadership includes chief executive Jason Oakley, the founder and former CEO of Recognise Bank, founder and former chairman of mortgage brokerage Mantra Capital, and MD of commercial banking at Metro Bank UK; James Briggs, intermediary sales director, who has prior experience at Precise; and Alan Davidson, chief commercial officer, whose career has included stints at Together and RBS.
James Briggs, intermediary sales director at Afin Bank, said: “It’s fantastic to be working alongside Access FS to bring accessible, high-quality mortgage products to the African and other diaspora communities, as well as other specialist borrowers.
“This partnership reflects our shared commitment to addressing the financial barriers faced by these communities, offering them the opportunity to achieve homeownership or invest in the UK property market.
“Afin Bank’s launch will mark a significant step toward inclusive lending, with Access FS at the forefront of delivering these vital financial services to clients across the UK.”
