We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Our purchaser has an Islamic mortgage
Comments
-
i understand that the buyer assigns the property to the bank between exchange and completion. Can I expect the time between exchange and completion the same as a standard mortgage or will there be delays? thanks0
-
nomoneytoday wrote:It's fine. Due to islamic law you cannot lend or borrow, so this is a way for people to buy property
I'm told that in Islamic law it's fine to lend and borrow as long as there is no interest involved i.e. you don't pay interest or receive interest from your savings. Something about having to work for your money.
Though really have no idea how the islamic mortage system works..0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.9K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.2K Spending & Discounts
- 246.9K Work, Benefits & Business
- 603.5K Mortgages, Homes & Bills
- 178.3K Life & Family
- 261.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards