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Islamic Bank of Britain launches Sharia compliant B2L mortgage alternative

To mark the launch IBB have also announced a promotional procuration fee of 0.5% gross, payable on referrals that drawdown prior to March 31 2012.  The deal is a variable rate product available at a rental rate of 5.49% with an arrangement fee of 1%. 

Further features of the product include:

  • Finance for landlords for a portfolio of up to five properties
  • The ability to make additional payments
  • The ability to clear the finance in full at any point without an Early Payment Charge


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