Offa joins Connect lender panel
In our commitment to expanding the Connect Network, we aim to provide mortgage brokers with diverse options. These options help in sourcing mortgages from clients of various backgrounds. Connect has partnered with Offa as our newest addition to the lender panel.
Birmingham and London-based Offa, the UK’s first Shariah-compliant bridging finance provider, has just joined the Connect Mortgages panel.
Connect for Intermediaries currently has a broad panel of bridging lenders. Offa joining as an exclusive provider of Shariah-compliant, short-term finance is just the cherry on top. Connect was founded in 1998 and has offices in Hornchurch, Essex, with 250 Appointed Representatives nationally. Connect specialises in BTL, including servicing the Expat, Foreign National and Shariah-compliant markets.
Offa’s range of Residential Bridge, Commercial Bridge and Repair-to-Let finance products will be available to Muslim and non-Muslim clients. (Offa joins Connect Lender Panel)
Offa joins Connect lender Panel | quotes
Bilal Ahmed, Founding Partner of Offa Alternative Ethical Finance, commented:
“We are delighted to join the Connect Mortgages Panel, enabling us to reach a wider broker audience with our Shariah-compliant, short-term finance products range. There is a growing demand for ethical finance from both Muslims and non-Muslims.
For example, Al Rayan Bank, the UK’s oldest and largest Islamic bank, recently announced a significant milestone. It has financed over £1.2bn in Commercial Property Finance (CPF) since 2013. The bank reached this milestone in 2020. Over the last twelve months, its CPF asset book increased by 20% to more than £600m. Its customer base is diverse. About 25% of commercial property finance customers are believed to be non-Muslim.
Islamic finance works differently from conventional banking and is regarded as ethical by those who use it. There is a significant, untapped market of Muslim and non-Muslim investors looking for alternative, ethical finance that is consistent with Islamic principles.
Brokers who can accommodate them will benefit from a strong new revenue channel with considerable long-term potential. While Offa accepts finance applications directly, the broker channel is integral to our proposition, and we are keen to speak to intermediaries who want to add Shariah-compliant bridging finance to their propositions.”
, commented:
“I am delighted to welcome Offa to our lender panel. Their addition extends our Shariah-compliant product offering, enabling our ARs to support the growing demand from customers requiring Shariah-compliant funding.”
We’ve reached the end of our company announcement, “Offa joins Connect Lender Panel.” Until next time, stay Connect!