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Islamic Mortgage

UNB IslamicMortgage is a diminishing ownership product that is based on Ijara principles. The amount paid by the customer results in the customer's beneficial interest the property increasing.

United National Bank is a UK registered bank that is authorised and regulated by the Financial Services Authority (FSA).

Islamic mortgages avaiblable from UNB: 

Mortgage type

Minimum amount of deposit

Standard residential


Buy to let


Important: Please note that UNB are the only lender to provide Islamic Mortgages in Scotland.

How it works?

You will have to complete the mortgage application form. UNB will use this to consider your application.

Once UNB is satisfied that you have fulfilled their criteria they will send you an offer letter. This will describe the offer terms.

On completion we will pay the amount UNB is willing to pay towards the purchase of the property to your solicitor. You will pay the difference between this amount and the actual purchase price of the property. UNB will be registered at HM Land registry as the legal owner of the property.

You will lease the property from UNB for an agreed number of years. You will pay monthly instalments towards the sale price of the property as well as rent for the duration of the mortgage term. And once you have paid the sale price and the rent due to UNB the property will be transferred into your name.

Qualifying criteria

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.

Minimum deposit requirement


Qualifying Property & Value

All types of residential property, owner occupied property considered in England, Scotland, & Wales.

Other properties are subject to Bank approval.

Minimum value subject to Bank approval.

Payment terms

25 years.

Income Multiplier

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.

Shariah panel / advisors


>> click here to submit an enquiry.


Islamic Mortgages Info

The Qur'an (2:276) says: "Allah has permitted trade and forbidden usury" and in 2:278 reminds the Muslims: "O ye who believe, keep your duty to Allah and relinquish what remains (due) from interest, if you are believers."

As a prospective purchaser of Islamic mortgages, we believe that you need to understand the issues which exist, question the authority of the Fatwa's which have been made and look to see what is right for the eyes of Allah.

Copyright © 2011 Islamic Please read our Terms and Conditions
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).