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Additional acquisition payments increase your share in the property and can either be used to reduce the term of your finance or reduce your monthly payments.
An Additional Acquisition Payment allows you to:
Your eligibility and applicable charges depend on when you took out or switched your Home Purchase Plan (HPP) or Buy to Let Purchase Plan (BTLPP).
Eligibility
You can make AAPs if your rental rate includes an Early Settlement Premium (ESP).
Charges and Conditions
Refer to the HPP Tariff List for full details
Click here for more information on the Early Settlement Premium
When Can You Make an AAP?
How Your Payment Is Applied
Eligibility
You can make an AAP if you are:
Charges and Conditions
The £25 fee is deducted from your payment. For example, to make a £5,000 AAP, you must send £5,025.
Refer to the HPP Tariff List for full details <link>
When Can You Make an AAP?
How Your Payment Is Applied
How to Make an AAP
Step 1: Let Us Know Your Preference
Tell us whether you want to:
You can do this by:
Step 2: Make Your Payment
Send your payment via Bank Transfer, including the £25 administration fee:
If you're paying from an AlRayan Bank account, we can transfer the funds internally.
Please email us at acquisitions@alrayanbank.co.uk to confirm.
Step 3: Provide Proof of Funds
As a regulatory requirement, you must provide evidence of the source of funds.
Email this to acquisitions@alrayanbank.co.uk, quoting your name and Customer ID.
Documentation Requirements
Source / Amount | Required Documents |
---|---|
Over £50,000 | 6 months’ bank statements showing sufficient funds |
Under £50,000 | 3 months’ bank statements showing sufficient funds |
Gifted Funds | Gift letter + donor’s bank statements (6 months if over £50k, 3 months if under) |
Shares/Dividends | Evidence of sale or dividend receipt |
AlRayan Bank Account | Usually no evidence needed unless funds were recently deposited |
If we cannot verify the source of funds, we may have to return the payment.
We recommend seeking legal advice if using gifted funds.
We answer some frequently asked questions about home finance.