Afin Bank launches range for high net worth clients – Mortgage Finance Gazette

Afin Bank has launched Afin Premier, a mortgage range designed particularly for High Net Worth clients.

The providing permits debtors to incorporate property together with pensions, investments, property portfolios, superb artwork, and basic automobiles when assessing mortgage affordability.

The lender says the brand new providing is aimed toward “asset wealthy, earnings mild” prospects who could not meet conventional income-based standards for giant loans.

The mortgages within the new range are all individually underwritten.

Historically, such a lending has been dominated by non-public banks, however Afin Premier will probably be accessible via all the lender’s middleman companions.

Afin Bank enterprise growth director Tippie Malgwi (pictured), who joined the lender firstly of this month, says: “Standard mortgage methodology understandably focuses on earnings, however for many High Net Worth clients their affordability lies of their property. Afin Premier supplies a extra tailor-made method than the automated processes sometimes utilized in mainstream lending.”

Afin Premier is offered throughout Afin’s full residential mortgage range — together with first-time purchaser, residence mover, and remortgage merchandise — for properties in England and Wales, for fixed-rate or versatile tracker mortgages.

Afin Bank chief business officer Alan Davison says: “The variety of clients who fall into the High Net Worth class is rising yearly, however their mortgage choices stay restricted. Many don’t wish to swap to personal banks. Afin Premier provides brokers a brand new possibility for these prospects.”