Afin Bank has officially launched Afin Premier, a bespoke mortgage proposition built for High Net Worth (HNW) borrowers. Unlike traditional mortgage models that focus heavily on income, Afin Premier considers a borrower’s independently verified net assets—or a combination of assets and income—when evaluating affordability.
This solution is particularly well-suited for “asset-rich” clients who may report a lower income but hold substantial wealth across investments, property, or collectibles. Historically, such specialized mortgages have been offered primarily through private banks. With Afin Premier, however, these products will now be accessible via all intermediaries partnered with Afin Bank.
A Tailored Approach for Affluent Borrowers
Tippie Malgwi, Business Development Director at Afin Bank, highlighted the significance of this launch, drawing on his background in private banking. He explained:
“Standard mortgage processes tend to prioritize income, but many High Net Worth clients have wealth concentrated in assets rather than earnings. Afin Premier provides a more personalized affordability assessment that reflects their full financial profile.”
Malgwi emphasized that automated, rigid mortgage systems often fail to account for valuable assets. Afin Premier addresses this gap by offering bespoke affordability checks that are flexible enough to accommodate an individual’s diverse wealth base.
Wide Range of Mortgage Options
Afin Premier will be available across Afin Bank’s entire residential mortgage range, covering:
- First-time buyers
- Home movers
- Remortgages
Borrowers can choose between fixed-rate or flexible tracker mortgages (with no Early Repayment Charges on the tracker option) and opt for either repayment or interest-only plans.
Meeting the Needs of an Underserved Market
Alan Davison, Chief Commercial Officer of Afin Bank, added:
“The number of High Net Worth clients is growing every year, especially with the rise of intergenerational wealth. Unfortunately, many mainstream lenders won’t support them, and not all clients want to work with private banks. Afin Premier bridges this gap by treating HNW borrowers as individuals, offering a pragmatic and flexible underwriting approach.”
A Bank Built for Underserved Customers
Afin Bank, which launched in July, has already positioned itself as a specialist lender for underserved groups such as self-employed professionals, foreign nationals, and now High Net Worth individuals. The bank operates with the backing of WAICA Reinsurance Corporation Plc (WAICA Re), one of Africa’s largest reinsurance providers.
With Afin Premier, the bank reaffirms its commitment to providing innovative mortgage solutions that cater to the unique needs of wealthy clients, expanding access to tailored financial products beyond the traditional private banking sector.
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