Access Financial Services has announced a strategic partnership with Afin Bank, a new entrant to the UK lending market, to expand mortgage access for African and other foreign national diaspora communities.
The semi-exclusive distribution deal will see Access FS offering mortgage products on behalf of Afin Bank, which is expected to launch later this year.
The collaboration is designed to tackle long-standing challenges faced by borrowers from overseas, particularly those with complex circumstances such as visa-based residency or limited UK credit history.
Afin Bank will provide a range of residential and buy-to-let mortgages, including high loan-to-value options up to 90%, tailored to first-time buyers, home movers and landlords investing in UK property.
Nick Jones, mortgage sales and marketing director at Access FS, said the partnership was a natural extension of the firm’s mission to serve under-represented communities.
“This is perfectly aligned with our expertise – lending to the African diaspora in the UK is a great fit for us,” he said.
“Many professional Africans in the UK, working in sectors such as health or finance, don’t get the support they need from mainstream lenders when they’re trying to buy a home: nearly nine in 10 Africans in the UK say they have been turned down for a mortgage.”
Access FS, which says 90% of its advisers come from diverse backgrounds, believes its advisers are well placed to guide clients through the process.
“With Afin Bank, we’re working to change that,” Jones added.
“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.”
Jones also pointed to Access FS’s role in helping new lenders refine their propositions. “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,” he said.
Afin Bank’s executive team includes several senior figures with experience at challenger and specialist lenders. Chief executive Jason Oakley previously founded Recognise Bank and chaired Mantra Capital, following senior roles at Metro Bank.
Intermediary sales director James Briggs, formerly of Precise, and chief commercial officer Alan Davidson, who has worked at Together and RBS, complete the founding team.
Briggs said the partnership underlined Afin Bank’s ambition to promote inclusive lending. “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,” he said.
“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.”
