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 ownership share in the property and can be used to either reduce your monthly payments or shorten your finance term. If you wish to reduce your term, you must inform the Bank at the same time you make the Additional Acquisition Payment. If no instruction is received, the Bank may assume you intend to reduce your monthly payment. Please note that once a payment has been reduced, it cannot be reversed.

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 £2,000. 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 payment 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.

How to make an additional acquisition payment