Simplybiz Mortgages has added new specialist entrant Afin Bank to its lender panel.
The addition marks part of a limited market release by Afin, which is initially working with two ‘Founder Clubs’ as it launches to intermediaries for the first time.
Among the lender’s early priorities is providing finance for individuals from the African diaspora and other foreign nationals living and working in the UK on valid visas.
Afin Bank employs a manual underwriting model and takes a flexible view of cases that may fall outside standard credit profiles, such as borrowers with limited UK credit history. It also lends to first time buyer landlords and those using gifted deposits, including funds from family members overseas.
The lender says its proposition is also well-suited to self-employed clients and others often overlooked by high street lenders.
Phil Daffern (pictured), head of lender relations at Simplybiz Mortgages, said the addition of Afin would be welcomed by its adviser base.
“We’re delighted to have been involved with the launch of a new intermediary specialist lender to the market, and to have worked closely with the team at Afin Bank during this exciting next step in its journey,” said Daffern.
“Our helpdesk and regional teams have been fully briefed on Afin’s commitment to residential and buy-to-let lending, and the ways in which it offers a refreshing and flexible approach to support for foreign nationals across several key areas.
“We know this news will be welcomed by our members as an additional potential solution to meeting their clients’ requirements, and we’re looking forward to continuing to work with the incredibly supportive Afin team as we approach a bright future together.”
Jason Oakley, chief executive of Afin Bank, added: “It’s great to be partnering with Simplybiz Mortgages and offering our products to its members.
“The partnership is an important step in helping us to realise our mission of empowering underserved customers, whatever their circumstances, and helping them to get the mortgage deal they deserve and a home of their own.”
Afin Bank’s procuration fees are typically paid within three working days. The lender is expected to widen distribution later in the year as it establishes itself in the UK intermediary market.
