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Islamic Mortgages

We understand the importance of faith, and therefore our specialist Islamic Mortgage solicitors specialist Islamic Mortgage solicitors are highly experienced in advising on Islamic Mortgages and Finance.

What Sharia Law Say’s About Mortgage?

It is forbidden under Sharia Law to pay or receive interest, therefore it has typically been difficult for British Muslims to purchase or re-mortgage property due to their faith.

In 2002, the UK government made Sharia-compliant mortgages available in the UK, this lead to many large banks offering this new form of finance.

If you are buying a property and require a mortgage or are re-mortgaging, our team of solicitors who are experts in Shariah-compliant finance can provide invaluable legal advice.


How Do Islamic Mortgages Work?

A Will is important as it provides an opportunity to set out your final wishes with regards to your money, possessions, and funeral arrangements. By setting out your wishes helps avoid potential family disputes and ensures that your assets are inherited by the right individuals. However, making a Will is particularly important to British Muslims, as the UK is a non-Islamic country and their assets will not be distributed in line with Islamic legislation if they die without a Will (dying intestate).

The significance of inheritance planning in Islam is clear, as outlined by the following four duties that must be carried out when a Muslim dies:

  • Payment of their funeral costs
  • Payment of their debts
  • Execution of their Will (including probate)
  • Distribution of their belongings in accordance with Shariah law

How Do Islamic Mortgages Work?

To be Sharia-compliant, a loan must be a fair agreement between the borrower and lender that allows the lender to still make money without any interest being paid by the borrower. The Islamic Mortgages offered by Sharia-compliant banks generally take one of the following three forms:

What is Diminishing Musharakah?

This is where the bank will buy the property and grant you a lease. A Trust is created between you and the Bank, where with each payment you make, your share in the property will grow until you have bought all the shares in the property.

After full payment has been made, the bank will transfer the legal title into your name. This is the most popular form of Islamic finance.

What is Ijara?

If you are not in the position to afford the deposit required, the Ijara may be a suitable option. The bank will purchase the property and grant you a lease. Similar to lease-to-own mortgages, these agreements involve monthly instalments, which are used to pay back the purchase price to the lender. Although these specialist structures still make a profit from rent and not interest, it is how that money is made that is the underlying difference between Islamic mortgages and conventional ones. Although these specialist structures still make a profit from rent and not interest, it is how that money is made that is the underlying difference between Islamic mortgages and conventional ones.

What is Murabaha?

This option is comparable to a rent-to-own agreement and is a non-interest bearing loan that involves an agreement between purchaser and seller that sees ownership of the property retained by an intermediary until the loan is paid back in full.

Why Choose Us?

Islamic Mortgages are rapidly evolving but still a relatively new area of property law. It is a complex process to ensure that the strict standards necessary to be Sharia-compliant can be met.

The process requires experienced solicitors with specialist knowledge of Islamic Mortgages and finance with good relationships with the institutions that provide these products.

Virtual Assistance

At Deo Volente, our virtual assistance service provides tailored legal support remotely, ensuring efficient communication and assistance for all your legal needs.


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