PMS Mortgage Club has added new lender, Afin Bank, to its panel, widening the range of specialist mortgage solutions available to its members.
Afin was created to support people from the African diaspora and other foreign nationals with an overseas passport and a valid visa to work in the UK, who can struggle to get a mortgage from mainstream lenders because of circumstances such as their visa status or lack of UK credit history.
The lender says that while designed with people from diaspora communities in mind, its mortgages may also be suitable for all borrowers struggling to get a mortgage because of their circumstances, such as the self-employed and professionals.
Afin Bank’s range includes a mortgage for first-time buyers, a home movers’ mortgage, a remortgage product and a buy-to-let mortgage for people wanting to invest in the UK property market.
All Afin Bank products will be available as fixed rate or flexible tracker mortgages, and the buy-to-let mortgages will also be available to those clients who don’t currently own any UK property. Afin Bank’s mortgages will be available for properties in England and Wales.
Afin's proposition is built around manual underwriting and a case-by-case approach, accepting foreign national clients with a minimum of six months’ UK residency, as well as considering forecasted income for self-employed applicants and higher income multiples for eligible professionals.
Claire Cherrington, director of PMS and Bankhall, commented: "We’re excited to welcome Afin Bank to the PMS panel. Their innovative approach to lending and focus on underserved borrower segments - particularly foreign nationals and diaspora communities in the UK - aligns perfectly with our mission to support advisers in delivering life-changing advice. We’re committed to helping our members access lenders who offer flexible, tailored solutions that reflect the realities of today’s mortgage market."
James Briggs (pictured), intermediary sales director for Afin Bank, added: "Afin’s mission is to help more people get the mortgages they need, especially those who may not fit traditional lending criteria, such as foreign nationals who can struggle to get a mortgage from mainstream lenders because of circumstances such as their visa or UK credit history.
“Joining the PMS Mortgage Club panel is a significant step for Afin Bank as it means we can work with more brokers, offering great products and excellent service, helping them to help more of their clients make a home in this country."
