Shariah Compliant Mortgages
Shariah or Islamic Compliant Mortgages
Shariah or Islamic Compliant Mortgages
What are These?
Shariah law (sometimes referred to as Islamic law) prohibits transactions which involve interest. It is considered unacceptable for money to increase in amount simply by it being lent to another individual. This rule prevents those abiding by Shariah law from using conventional financial products, which allow for payment and receipt of interest. Shariah compliant finance is therefore important for those individuals that wish to adhere to Shariah law.
Shariah Compliant Financial Products Available
Shariah compliant products are available to both Muslims and Non-Muslims. Such financial products are based on contracts between the parties.
Certain high street banks have further information in respect of the above, including HSBC. If you need legal assistance to put in place a Shariah compliant mortgage, please contact the conveyancing team for free initial advice on 0116 212 1000.
Request Further Information
If you would like further information about this topic, or any other on this site, simply complete your name and email address in the fields below, select the relevant document from the list and click "submit". The document will be automatically sent to the email address you enter.