From your first enquiry to your moving date, our home purchase plans provide an Islamic mortgage alternative, yet work in a similar way to a conventional mortgage to enable you to buy your home.

Why finance your home with us?

We provide a range of property finance solutions for UK residents, UK Expats and International residents looking to purchase or refinance residential property across England and Wales.

A home purchase plan offers you a Shariah-compliant alternative to a mainstream mortgage, with competitive rates and an ethical approach. Commonly known as an 'Islamic Mortgage', you can use it just like a conventional mortgage to buy or refinance your home.

With a home purchase plan you buy the property jointly with us – your deposit is your stake, and we fund the rest. Once all your payments are made, you acquire the property and the deed of the property transfers to you. You are free to sell the property any time and any profit made on the sale is retained by you.

Our Home Purchase Plans

  • Available for customers who are employed, self-employed, contractors or temporary workers (terms apply)
  • Available to UK residents, UK Expats and International residents for those seeking home purchase, and to UK residents and UK Expats for those seeking refinance
  • Finance provided for:
    • Houses (including new build) up to 95% of the property value
    • New build flats up to 90% of the property value
  • Finance available up to £5m as follows:
    • 95% of the property value or purchase price (whichever is the lower) up to £600,000, for property purchase for UK residents only
    • 90% of the property value or purchase price (whichever is the lower) up to £750,000, for UK residents only
    • 80% of the property value or purchase price (whichever is the lower) up to £2m, 75% up to £3m, and 70% up to £5m, for UK residents, UK Expats and International residents
  • Available over a maximum 40-year term
  • Green Finance Products are available to both new and existing customers which carry a discounted rate of 0.10% off the standard product rate (terms apply, see eligibility below)
  • We provide ‘Acquisition and Rent’ finance which is the Shariah-compliant alternative to a conventional repayment (capital & interest) mortgage
  • Gifted deposits are allowed from immediate family members including parents (including parents in law), spouse, children (who have their own independent source of income), grandparent, brother, sister, uncle/aunt, foster/adoptive parents or legal guardian and includes step-relatives
  • Up to 4.5 times income will be considered, subject to affordability

Am I eligible?

You can apply for home finance if you meet these criteria:

  • Buying property in England or Wales
  • Refinancing property in England or Wales - only available to UK residents and UK Expats
  • Seeking finance of at least £75,000 and up to £5m
  • Minimum age 18 years (UK residents) / Minimum age 21 years (UK Expats / International residents). Maximum age at end of finance term 75 years or retirement age if earlier
  • Earning at least £15,000 or £20,000 for finance above 80% of the property value (UK residents) / £25,000 (UK Expats / International residents)
  • Green Finance Products are available to customers where properties have an EPC rating of A or B. More information can be found here
  • All applicants must be able to read, speak and understand English to a level that they are fully aware of all obligations and requirements when entering any financing arrangement with the Bank
  • We will consider finance applications from applicants residing in over 150 different countries. For more details see our Home Finance Applications – Countries Checklist

Here to help

To help answer all your questions, we have a comprehensive FAQ section. We also have some handy calculators you might find useful, along with details of all our products. To help our customers we have a Homebuyer Guide which gives you an insight into each of the key steps when buying your home, and also a handy one-page Homebuyer Checklist which provides a summary of the key stages at a glance. More information about the key differences between Shariah-compliant and conventional property finance can be found here.

Next steps

We have a team of experienced and qualified advisers on hand to help you every step of the way. The process usually takes 2-4 weeks from the initial application to an Offer of finance being issued, as long as you send us the documents we need promptly, and we get an acceptable property valuation. Then it’s usually another 12-16 weeks from receiving a signed Offer of finance to legal completion as long as all the right documents are submitted to the solicitors and satisfactory legal reports are received.

UK Residents - Find out how much finance we could provide in around 10 minutes by completing an online Decision in Principle. We will provide you a personalised indication without impacting your credit score.

Get a Decision in Principle

Not yet ready for a Decision in Principle? Fill in our enquiry form here or give us a call.

UK Expats / International Residents – Simply get in touch by using our online enquiry form, or alternatively you can telephone us - find out the different ways to get in touch

Home purchase plans - the Islamic mortgage alternative

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Our Calculators are here to help

How much finance can I have?

How much finance can I have?

Find out how much home finance you could have.

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How much will it cost me?

How much will it cost me?

Find out how much your monthly payments could be.

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