Islamic Mortgage Solicitors

Obtained your Sharia-compliant purchase or refinance offer? Are you looking to instruct an experienced property lawyer to act for you? You're in the right place. The solicitors here at Fan Harrhy Law have completed numerous purchase, refinance and redemption transactions involving Diminishing Musharakah Agreements or Commodity Murabahas to facilitate property finance.

Being experienced in UK property law and Sharia-compliant mortgages, we can guide you through the process and the various documents required for this type of transaction.

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Legal Services for Islamic Mortgages

If you're looking for a solicitor experienced in the Sharia-compliant finance agreements, contact Fan Harrhy Law today. We are experts in conducting property transactions for clients in England and Wales who require a Shariah-compliant home purchase plan instead of a conventional mortgage.

Fan Harrhy Law will guide you through the financing structure, title searches and contract – experienced in Islamic finance and English & Welsh Property Law.

Islamic Mortgage Advice from Expert Solicitors

Hiring a solicitor with experience in Islamic finance is essential if you want to ensure that the transaction runs smoothly.

Our Islamic finance solicitors will be able to explain the specific terms and conditions of Islamic Home Purchase Plans or Buy to Let Purchase Plans in addition to handling the standard legal tasks like conducting property searches, investigating the title and registering the transfer of ownership at the Land Registry.

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Frequently Asked Questions

Islamic Mortgage FAQ

How do Islamic mortgages work?
Instead of lending money and charging interest (which is prohibited in Islam) an Islamic mortgage avoids interest altogether by structuring the deal using one of the three types of Sharia-compliant home purchase plan:
- Diminishing musharaka. This is the most common model. You and the bank jointly purchase the property, then you pay rent to the bank and gradually increase your ownership share until you own the property outright.
- Murahaba. This is where the bank purchases the property and sells it on to you at a higher, predetermined price.
- Ijara. This is a ‘lease-to-own’ agreement, where the lender purchases the property outright and you make monthly payments that cover the purchase price of the property, rent and any other charges.

Do you have to be a Muslim to get an Islamic mortgage?
No – anyone can get an Islamic mortgage, including non-Muslims. Non-Muslims may choose an Islamic mortgage for ethical reasons as Islamic finance prohibits reinvestment into industries like gambling, alcohol and pornography.

How can I apply for an Islamic mortgage?
You will first need to find a bank that offers Islamic mortgages or a financial advisor to assist you. Once you have been accepted for the offer you can then find an advisor with experience of Sharia-compliant finance (we are ready to help at Fan Harrhy Law) who can guide you through the home purchasing process.

Islamic Mortgage Specialists

Get in touch with Fan Harrhy Law today to discuss your Shariah-compliant home purchase options with one of our Islamic mortgage specialists. Our services are available to clients throughout England and Wales.