Initiative aims to improve loan access for underserved diaspora communities
Ahead of its full launch expected later this summer, Afin Bank has introduced a new initiative aimed at improving access to home loans for diaspora communities in the UK.
The Community Ambassadors Programme will involve selected individuals from diaspora groups who will refer friends and family members seeking mortgage or remortgage support to the bank. Ambassadors will not provide financial advice but will connect interested parties with Afin Bank’s in-house mortgage advisers.
Afin Bank was created to serve borrowers who often face difficulties obtaining home loans from traditional lenders—particularly people from African, Indian, and Eastern European backgrounds. The bank focuses on applicants who may lack a UK credit history or hold temporary visas, making it harder to qualify for mainstream products.
Kemi Fashina (pictured), the bank’s marketing and community manager, will lead the ambassador initiative.
“Diaspora communities in the UK are close and strong, and good news is shared quickly, so the creation of Afin Bank has already started a buzz among people keen to get on the property ladder but have found it hard to get a mortgage,” Fashina said. “The development of our Community Ambassadors Programme will be pivotal in helping to drive greater financial inclusion.”
Advisers at Afin Bank will handle all mortgage applications, guiding clients through available loan options and assisting with document preparation and submission. The bank said ambassadors will be supported by a dedicated management team and will have flexibility in how they engage their communities. Afin Bank will also assist with events and respond to any technical questions that arise.
Alan Davison, chief commercial officer at Afin Bank, described the programme as a key part of the lender’s outreach strategy.
“We have built a strong network of broker partners ahead of our planned launch, including those that already work with diaspora communities. Our Community Ambassadors Programme will complement that approach,” he said. “Instead of treating people like a number, we are building a network of trusted Ambassadors with strong relationships who are referring people to a bank that puts its customers first.”
The bank commissioned research among 500 members of the African diaspora in the UK, which showed significant challenges in accessing home loans. The survey found that 87% of respondents had been declined for a mortgage, and 92% felt underserved by financial providers. Ten percent said they would seek mortgage guidance from someone in their community.
Louis Mensah Owusu, a Ghanaian community leader and newly appointed ambassador, said the programme would help fill that gap.
“This is a great idea and an important development for people in diaspora communities looking to lay down roots in the UK,” he said. “When it comes to financial services, people want support from organisations and leaders they trust so they can make good decisions.”
Afin Bank received Authorisation with Restrictions (AwR) from regulators in October last year. Backed by African reinsurer WAICA Re, which has invested £62 million, the bank plans to offer residential and buy-to-let mortgages as well as FSCS-protected savings products later this year.
While its core customer base includes foreign nationals in the UK, Afin Bank says its lending may also appeal to self-employed borrowers and high-net-worth individuals who are typically underserved by traditional banks.
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