Afin Bank Opens Mortgage Market to African Immigrants
Hey Digital Banking fanatic!
A new UK digital bank has entered the mortgage market. Afin Bank, now fully authorized by the Bank of England, will offer home loans starting this Monday.
Backed by £62 million from WAICA, the bank will serve African, Eastern European, and Indian nationals often turned away by high street lenders. In a recent survey, 87% said they were declined due to a lack of UK credit history.
“The problem is that so many mainstream lenders have highly automated processes that can’t deal with the circumstances that the African diaspora and other foreign nationals face,” said CEO Jason Oakley. Afin will consider overseas credit records and income in its assessments.
There’s more on Afin Bank below, scroll down for details and the latest from across the digital banking industry 👇
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NEWS
🇬🇧 New bank Afin aimed at African immigrants, cleared to sell mortgages. It will offer home loans to foreign nationals without sufficient credit or residency history for high street banks, and more widely to the self-employed. Keep reading
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