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UK Islamic Mortgages worth Billions

There are still many obstacles to clear:

New changes however are on their way to resolve some of these problems. The introduction of the UK parliamentary Regulation of Financial Services Bill is likely to make Ijara mortgages a reality; lenders are optimistic of the change in capital weighting. The ODPM is looking to integrate Islamic mortgages into the right to buy scheme. And finally, as more lenders enter the market it should make it more competitive, drive down costs, making the Islamic Mortgage comparative competitive with conventional mortgages.

Source for statistic: 'UK Islamic Mortgage 2005'  published July 2005 by Datamonitor.


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