-    Briggs becomes Intermediary Sales Director for new specialist lender

 

James Briggs has joined newly launched specialist lender Afin Bank as Intermediary Sales Director. Previously Head of Intermediary Sales at Together Personal Finance, Briggs will lead the charge to develop broker relationships ahead of the lender’s planned full launch next year.

 

Afin Bank has been created to support clients with an array of specialist requirements who struggle to secure funding via high street banks or fail to meet other specialist lenders’ criteria. Specifically, Afin Bank says it will support borrowers including the self-employed, high-net worth borrowers, and clients building their professional careers and have a non-standard income.

 

The bank will also support Africans living and working in the UK, who are poorly served by mainstream lenders because of their nationality, visa status or lack of credit history. Afin Bank says as the bank grows it is likely to appeal to borrowers from other under-served diaspora communities.

 

Briggs brings over 25 years of experience of the specialist mortgage market, including a stint at Precise Mortgages. He said: “I am excited for the opportunity to work with brokers and distribution partners to help fill the criteria gaps and create a competitive proposition for the intermediary community and their clients.

 

“We are creating a specialist lending proposition, comprising a forward-thinking range of products. Our proposition will harness the latest technology to create a product journey without the friction, for both the broker and the borrower. Afin Bank will help brokers convert more cases and support more clients who are currently under-served by the market.”

 

Briggs joins his former Together Personal Finance colleague Alan Davison, who is Afin Bank’s Chief Commercial Officer.

 

Davison said: “I’m delighted that James is joining us at Afin Bank. He knows the specialist lending market inside out, has a track record for developing longstanding distribution relationships, and really understands how Afin Bank will help this important market.

 

“Treating our customers and our brokers fairly and with the respect they deserve is very important to Afin Bank and is at the very heart of our values and our business model. I look forward to working with James as he engages with our partners to tell the Afin Bank story.”

Afin Bank is backed by WAICA Reinsurance Corporation Plc (WAICA Re), one of the largest reinsurance companies in Africa, which has committed £60m to launch Afin Bank.

 

The Bank aims to start lending early next year2 through intermediaries, along with partnerships with groups in diaspora communities, such as cultural networks and associations. The lender says its products will be developed to suit its customers’ circumstances, ensuring common-sense decisions, while technology will be used to deliver quick and efficient service for borrowers and intermediaries.

 

Afin Bank will also offer a range of FSCS protected savings products to all UK savers, with more products in the pipeline. Customers will be able to manage their products via a digital app.

For more information about Afin Bank visit www.afinbank.com and follow it on X and Instagram.

 

To speak to our PR team, contact Paul Beadle Paul.Beadle@afinbank.com or Mbl 07801105001

¹ In carrying out the regulated activity of accepting deposits, the aggregate amount of deposits held by the firm at any time may not exceed £50,000. ‘Deposit’ has the meaning given in Article 5(2) of the Financial Services and Markets Act (Regulated Activities) Order 2001.

² Subject to regulatory confirmation.

 

Afin Bank is a new bank supporting one of the UK’s most under-served but vital and growing communities; people from Africa living and working in the UK. People that are doing important jobs, contributing to society, creating wealth and opportunities.

 

Banking can be complex, so we’re making it simple. Our mission is to cut out the complicated stuff to deliver simple products and service excellence to make banking effortless.

If you're planning to buy a home or grow your savings, Afin Bank is here for you to achieve your goals. We’re here for you if you’ve moved to the UK and have a passport from certain countries, or if you live in certain countries and wish to invest in the UK property market.*

 

We provide a simple and secure banking experience through our app to deliver real value that empowers you.

 

*Subject to acceptance criteria and ID requirements

 

-    New lender will offer residential and BTL mortgages, as well as savings

-    Afin Bank will help Africans living in the UK and certain overseas borrowers  as well as UK borrowers with specialist needs, such as the self-employed

 

 

Afin Bank, a new bank created to support people from Africa living and working in the UK, as well as certain overseas borrowers buying into the UK property market, has been granted its banking licence Authorisation with Restrictions¹ (AwR).

 

Afin Bank will help people from Africa who find it difficult to get mortgages because of their nationality, visa status or lack of credit history in the UK, despite being part of some of the country’s most thriving communities, doing vital jobs and running their own businesses.

 

As a specialist lender, Afin Bank says its products will also suit a broad spectrum of non-standard customers, such as high net worth borrowers, professionals and self-employed people, who struggle to get a mortgage through mainstream providers.

 

The bank aims to start lending next year² through intermediaries, as well as via a digital app, offering residential and buy-to-let mortgages to people living in England and Wales, as well as BTL mortgages for borrowers based overseas in the West African Countries of Ghana, Sierra Leone and The Gambia investing in the UK property market.

 

Afin Bank will also offer a range of FSCS protected savings products to savers with a UK passport, as well people from Ghana, Nigeria, Sierra Leone and The Gambia resident in the UK.

 

Afin Bank is backed by parent company, WAICA Reinsurance Corporation Plc (WAICA Re), one of the largest reinsurance companies in Africa and in the top 100 reinsurers worldwide. WAICA Re has committed £60m to Afin Bank, demonstrating its belief in the UK financial services sector and Afin Bank’s goal of supporting an under-served customer base.

 

Afin Bank’s CEO is Jason Oakley, who co-founded SME lender Recognise Bank in 2021. Announcing Afin Bank’s AwR licence, Oakley said: “This is an important milestone for Afin Bank and demonstrates that we are well on our way to offering vital financial services to the African diaspora who are currently poorly served by mainstream providers.

 

These are professionals working in vital sectors such as law, finance and health, as well as in many of our major corporate firms, or they are creating wealth and opportunities in the UK. Yet they have found it difficult to get the financial support they need until now.

 

Afin Bank will tear down the barriers these under-served customers face and give them the products they need from a bank they can trust. More than just helping them overcome these challenges, Afin Bank will be a bank where customers will feel welcome and people with diverse backgrounds are valued.

 

Alan Davison, formerly Distribution Director at Together Personal Finance, is Chief Commercial Officer. He said: “Not only is this an important milestone for Afin Bank, it is also great news for under-served customers who are not being supported by mainstream lenders.

 

While there are some buy-to-let products available to non-UK nationals, there are very few residential mortgages designed for foreign nationals looking to buy their own home. Borrowers are usually considered by most banks simply on credit appetite, rather than being offered products that suit their needs.

 

Afin Bank’s credit underwriting will be tuned to our customers’ circumstances, ensuring common-sense decisions, quick service and certainty for the borrower and their intermediary, for both residential and buy-to-let lending.

 

In addition to working with intermediaries, Afin Bank is also building partnerships with groups and organisations that are part of the African community, including cultural networks and associations.

 

The inspiration for Afin Bank came from the real experiences of Africans living in the UK, particularly from West Africa, struggling to build banking relationships in this country. Initially Afin Bank will target African nationals, of which there are more than 1.5 million³ living in the UK. However, as the bank grows it is likely to appeal to borrowers from other under-served diaspora communities.

 

Afin Bank says that what sets it apart from mainstream providers is its deep understanding of its target customers, their needs and ambitions, and the financial challenges they face. This knowledge and the management team’s experience of building successful financial services firms means Afin Bank is well placed to create a bank for this important segment of the UK.

 

Afin Bank will use the best in IT platforms along with proprietary technology to provide effortless banking via a mobile app. This also means Afin Bank will be able to develop new products and services quickly, responding to the changing requirements of its customers.

 

Afin Bank is now in the mobilisation stage and expects to launch in 2025². For more information about Afin Bank follow it on @AfinBankUK on X and Instagram.

 

To speak to our PR team, contact Paul Beadle Paul.Beadle@afinbank.com

 

¹ In carrying out the regulated activity of accepting deposits, the aggregate amount of deposits held by the firm at any time may not exceed £50,000. ‘Deposit’ has the meaning given in Article 5(2) of the Financial Services and Markets Act (Regulated Activities) Order 2001.

² Subject to regulatory confirmation.

³ 2021 Census Data from the ONS