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Islamic Property Market Booming

On April 6th 2007, people taking out Islamic / Halal mortgages gained official protection from the Financial Services Authority (FSA). The mortgage conduct of business (MCOB) rules now apply to regulated mortgage contracts including Home Purchase Plans (Islamic Mortgages).

This new regulation builds on the FSA's financial inclusion agenda, extending protection to consumers interested in financing a home purchase in a way acceptable under Islamic law.  The FSA's regulation seeks to ensure that:

  • firms offering these products are fit and proper and appropriately resourced with staff competent to undertake this business;
  • consumers get clear, concise and consistent information about a firm's services and products on offer (including appropriate risk warnings) so they can make informed choices;
  • consumers get good quality advice and are sold suitable products which take account of their circumstances and needs; and
  • if things go wrong, consumers are able to obtain redress, if appropriate.

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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).