Product Switch Before 1 Oct 2025

If the start date of your existing rental rate was before 1 October 2025, the following Additional Acquisition Payment process applies to you. 

Additional Acquisition Payments

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. 

If you are currently on the AlRayan Bank Variable Rental Rate, a discounted variable rental rate or you are in the final month of your fixed rental rate agreement, you can make an additional acquisition payment.

The minimum acquisition payment you can make is £4,000. There is no maximum amount.

Administration fee

There is a £25.00 administration fee for every additional acquisition payment you make. We will deduct the £25.00 administration fee from the payment that you send us, for example, if you want to make an additional acquisition payment of £5,000 you will need to send £5,025. For further details on the fees and charges associated with your finance product please refer to the HPP Tariff list.

If you are currently on the AlRayan Bank Variable Rental Rate or Discounted Variable Rental Rate you can make four additional payments a year, one in March, June, September and December. For the Bank to apply the payment it needs to be made by the 20th day of each of those months.

Additional Acquisition months

If you are on a fixed rental rate product you can make an additional acquisition payment in the final month of your fixed rental rate agreement, again payment needs to be made by the 20th day of the final month of your fixed rental rate.

Your payment will be applied at the same time we collect your next monthly payment. For example, if you make an additional acquisition payment in June, this payment will be applied at the same time as your July monthly payment is collected.

Your monthly payment will reduce the month after the additional acquisition payment has been applied, therefore, if the additional acquisition payment is made in June, it will be applied in July and your monthly payments will reduce in August when July's payment is collected.

You can reduce the term of your finance product by opting to keep your monthly payments the same. You will receive a confirmation of your new term by post after we have applied your additional acquisition payment.

You can telephone and let our Customer Service agents know whether you want to reduce either your monthly payment or your finance term. Alternatively, you can e-mail the request to acquisitions@alrayanbank.co.uk. Please ensure you quote your name and six-digit Customer ID number which can be found on your statement.

Please send you additional acquisition payment including the £25.00 administration fee 

• Bank Transfer to AlRayan Bank.
• Account Name: AlRayan Bank PLC
• Account Number: 79977101
• Sort Code: 30-00-83

Reference

Please quote your six-digit Customer ID number and name as the reference.
If your additional acquisition payment and administration fee are coming from an AlRayan Bank account, we can transfer these funds directly ourselves. Please inform the Bank if you intend to make the acquisition this way is by e-mailing acquisitions@alrayanbank.co.uk.

Source of funds

As a regulatory requirement, you must provide proof of the source of funds for the additional acquisition payment. The information we will need will depend on the source and amount of the funds. The information needs to be e-mailed to us at acquisitions@alrayanbank.co.uk quoting your name and six-digit Customer ID number.