Home Purchase Plan

Pay rent not interest with our Sharia compliant mortgage alternatives.

YOUR HOME MAY BE AT RISK IF YOU DO NOT KEEP UP THE PAYMENTS ON YOUR HOME PURCHASE PLAN

Unlike a conventional mortgage where the purchaser borrows money from a lender which is then repaid with interest, Al Rayan Bank's Sharia compliant Islamic mortgage alternatives (Home Purchase Plans or HPP) are based upon the Islamic finance principles of a co-ownership (Diminishing Musharaka) and leasing (Ijara).

Your monthly Home Purchase Plan payment is made up of two elements, an acquisition payment and a rental payment. When all acquisition payments have been made and the finance has been settled, ownership of the property transfers to you.

Our halal mortgage alternatives are not exclusively for Muslims, Al Rayan Bank provides competitive rental rates which are attractive to everybody. Finance for your property is generated from ethical activities considered lawful under Sharia. Our administration fees are low and there are no early settlement penalties, giving you flexibility with your finances.

For more information on Home Purchase Plans, please call 0800 4080 435 and speak to a member of our team, or complete our online form and we'll get back to you.

Finance to value (FTV) Fixed Discounted Variable  
60% 2.69% 2.89% Find out more
70% 2.79% 2.99% Find out more
80% 2.99% 3.19% Find out more
90% 4.49% Not available Find out more

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