It is against Islamic law to pay or receive interest, this has been a huge problem for Muslims living in Britain. When it came to home buying it was only the very rich, who could afford to buy a home outright. Fortunately however many banks and building societies are starting to recognise this as a problem and are offering an alternative.

There are two options available to you that correspond with Muslim law:

• The Murabaha (Deferred sale finance) Mortgage
• The Ijara (lease to own) Mortgage

Shariah
   
Shariah is the term used to describe Islamic law. Riba ( interest ) - the abolition of interest, is a religious goal and value that the Islamic economic system is based on. Historically, the issue of Riba combined with limited availability of Halal mortgage options has prevented numerous Muslims from purchasing homes without compromising their beliefs.