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

Al Rayan Bank's Sharia compliant Islamic mortgage alternatives (Home Purchase Plans or HPPs) are based upon the Islamic finance principles of co-ownership (Diminishing Musharaka) and leasing (Ijara).

View our complete range of Home Purchase Plans

 Home Purchase Plans

60% FTV

70% FTV

80% FTV

90% FTV

95% FTV

Discounted Variable 3.14% 3.24% 3.44% N/A N/A
Expat Discounted Variable 3.39% 3.49% 3.69% N/A N/A
Fixed 3.44% 3.54% 3.74% 4.49% 4.99%
Expat Fixed 3.69% 3.79% 3.99% N/A N/A

 

Fees Assisted Home Purchase Plans

60% FTV

70% FTV

80% FTV

90% FTV

95% FTV

Disocunted Variable (Fees Assisted) 3.29% 3.39% 3.59% N/A N/A
Expat Discounted Variable (Fees Assisted) 3.54% 3.64% 3.84% N/A N/A
Fixed (Fees Assisted) 3.59% 3.69% 3.89% N/A N/A
Expat Fixed (Fees Assisted) 3.84% 3.94% 4.14% N/A N/A

Your monthly payment is made up of two elements, an acquisition payment which increases your share of the property and a rental payment for use of the portion that the Bank still owns. When all acquisition payments have been made and the finance has been settled, ownership of the property transfers to you.

Home Purchase Plan customers in Scotland pay an 'occupancy payment' under a 'co-beneficiaries' agreement.

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