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Standard Ijara Home Purchse Plan 

• Up to 65% finance is available
• Basic rent rate of 4.49% fixed until 1st April 2010 thereafter a fixed margin of 2.50% above 12 month Bank LIBOR* for the remaining term
• Margin is fixed and guaranteed for the entire term
• Yearly review of the basic rent
• Make full payment at any time with no early payment charge
• Make additional payments in any amount at each annual review without penalty
• Available for the purchase and refinance of freehold and leasehold property

Buy to Let Ijara Home Purchase Plan 

• Up to 65% finance is available
• Basic rent rate of 4.99% fixed until 1st April 2010 thereafter a fixed margin of 2.99% above 12 month Bank LIBOR* for the remaining term
• Margin is fixed and guaranteed for the entire term
• Yearly review of the basic rent
• Make full payment at any time with no early payment charge
• Make additional payments in any amount at each annual review without penalty
• Available for the purchase and refinance of freehold and leasehold properties

Buy to let Murababa Purchase Plan 

• Up to 65% finance is available
• Profit rate of 7.0% is fixed and guaranteed for the entire term
• Monthly payments are fixed for the entire payment term
• Property registered in your name or names
• Sell the property when you wish
• Available for purchase of freehold and leasehold properties

None UK reisdent Home Purchase Plan 

• Up to 65% finance is available
• Both the Ijara and Murabaha Home Purchase Plans are available
• Ijara basic rent will be based on a fixed margin of up to 3.49% plus 12 month Bank LIBOR*
• Murabaha profit rate of 7.49% which is fixed and guaranteed for the entire term
• Purchase or refinance residential property for either letting as an investment or own use
• Application fee of 1.25%
• Available for the purchase and refinance of freehold and leasehold properties

Ijara

Under Ijara the bank will buy and own your chosen property.

We then sell it to you for the same price with payment spread over a period of up to 25 years.

While you are buying the property from the bank we will also charge you rent for living in a property we own.

The bank therefore makes its profit from the rent we receive from you and, once you have paid us the full purchase price, the property will become yours.

The bank therefore makes its profit from the higher sale price of the property.

Suitable for those in permanent employment or the self-employed. Who are able to pay the purchase price before the age of 65. Minimum age 18.

• Bank statements
• Credit check
• Employment status check
• Minimum deposit.

65% is available for finance with a minimum deposit of 35%.

Ijara - up to 25 years, minimum term 7.5 years.

Max 15 years for non-UK residents

3 times primary annual income (sole applicants).

3 times the higher income plus 1 times the lower income or 2.5 times combined income for joint applicants, however, we will look at each case on its own merits.

• Prof. Ali Muhyealdin Al-Quradaghi - Chairman
• Dr. Fareed Mohammed Hadi - Member
• Prof. Abdul Aziz Al-Qassar - Member

 

>> click here to submit an enquiry.

 

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The entire product range offered on this website is Shariah compliant. However, from time to time we will promote relevant none Halal products where no Islamic / Halal alternatives exist. Your home is at risk if you do not keep up monthly payments due under an Islamic / Halal mortgage agreement (your lease and / or diminishing ownership agreement).