Are there any mortgage options available in UK that are Islamically halal such as Diminishing partnership offered by Al Rayan and Gatehouse? I am confused as some people these are even more costlier and also not really Islamic? JazakAllah khair
We have not looked into the products offered by Al Rayan and Gatehouse and therefore cannot comment at this stage on their status. We would advise contacting their shari’ah advisory team and discussing their products directly with them. If you feel content with what they have said and feel that you can trust the shari’ah advisory team then you would be permitted to take out their products placing your trust in these scholars. If you have doubt about any specific juristic details mentioned to you, then you may write to us seeking juristic clarification in relation to those points.
Ifta Research Fellow
Checked & Approved by:
Mufti Abdul Rahman Mangera
Mufti Zubair Patel