Afin Bank mortgage lending hit £135m in its first full year of operations.
The bank, which also offers FSCS protected savings accounts, has also topped £60m in savings deposits.
Afin launched last July, and initially focussed on providing mortgages to foreign nationals working in the UK on valid work visas.
The bank was backed at launch by parent company WAICA Re, one of Africa’s largest reinsurance firms, with a £62m investment.
It has since expanded to a wider range of underserved borrowers, such as the self-employed and contractors, qualified professionals and people with complex incomes.
“Reaching £135m in mortgage approvals in a year not only shows how well the bank is doing, it also proves there is a need for a bank like Afin that helps borrowers let down by mainstream lenders because their needs do not fit a tick box,” said Jason Oakley, CEO at Afin Bank (pictured above).
“The support we have had from brokers has been incredible, not only in terms of the business they have given us, but also the valuable relationships we have built that have helped shape and improve our products and services. Here’s to an incredible second year!”
Katrina Arnold, chair at Afin Bank, added: “Launching a bank takes a lot of hard work and commitment, so I would like to thank all our colleagues, adviser partners, suppliers, investors and of course our customers for their support, helping Afin reach this amazing milestone.
“As the economic conditions continue to become even more challenging for consumers, with many lenders becoming stricter with their lending criteria, I am proud that Afin Bank is here for borrowers whose circumstances are a little bit different, providing a common sense approach to lending and helping people to buy their first property, move home or remortgage.”
