Assalamualaikum w w. Which Islamic home purchase plan would you recommend to someone from Scotland? Please respond asap. Jazakallahu khairan.
Wa Alaikum Assalam wa Rahmatullahi wa Barakatuh.
When it comes to securing Shariah-compliant property finance in Scotland, the options differ slightly from England and Wales due to distinct differences in Scottish property law and land registration.
Currently, the availability of standard retail Home Purchase Plans (HPP), such as Diminishing Musharakah (co-ownership), is highly restricted or unavailable from the UK’s mainstream Islamic retail banks for properties located in Scotland. This is primarily because standard HPP legal structures are heavily tailored to English property law.
We can however assist residents of the GCC countries to purchase property in Scotland under the Commodity Murabaha structure. Get in touch if this is what you need
[Book appointment with our Islamic property finance specialist]
what are my options for a remortgage, from a conventional banking mortgage to one of your products?
Yes, it is entirely possible to switch from a conventional interest-bearing mortgage to a fully Shariah-compliant structure. This process involves replacing your current conventional arrangement with an alternative finance product.
Depending on whether the property is residential or commercial, your main options typically include:
Key Considerations Before Making the Switch:
As every situation is unique, we recommend arranging a consultation to explore your options in detail.
[Click here to book an appointment with Halal mortgage alternative expert]
Can I remortgage my commercial property which has been paid in full, to purchase another commercial property or land? Via halal means?
Yes, this is entirely possible, subject to terms and conditions.
To structure this type of Sharia-compliant finance, our finance providers utilise the Commodity Murabaha model. If you are looking to release equity from your fully paid commercial property to fund a new purchase, the key criteria are as follows:
Because commercial structures can be complex, we highly recommend booking an appointment with our team to discuss the specific details of your property and investment goals.
[Click here to book an appointment with an Islamic Finance specialist]
how can I cancel my phonecall appointment?
To cancel or change your scheduled phone appointment, please follow these quick steps:
If you cannot find your confirmation email, just send us an email amd let us know your full name and the booked time, and we can cancel it for you from our end.
