Islamic-Mortgage.com
Title
Islamic Mortgages.co.uk
Description
Excerpted from the website:
- There are approximately 2.5 million muslims in the UK, but many face a dilemma when it comes to taking out a mortgage. For most people the dilemma is how to get the best deal possible. For muslims it's a question of do they go against their faith by taking out a conventional mortgage or do they try and seek out a mortgage which complies with their religious beliefs. Conventional mortgages are based on getting a loan from a bank or building society for the price of the property, then paying it back over a period of time, usually 25 years, at an agreed rate of interest. Under the laws of Islam regarding investment, Sharia, it is forbidden to take money when it has not been earned. Money has to be produced through a muslims own effort and work. Interest, (riba), is therefore viewed as an excess payment from one party to another that is not related to the value of goods actually traded. The result is that mortgage interest is not acceptable, as one party profits at the other party's expense without there being any regard to the price paid for the home.
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English
Address
- Dot Com House, Broomfield Pl, Earlsdon, Coventry
- W Midlands CV5 6GY UNITED KINGDOM
Contact
- Financial Services Net Ltd
-
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