Your situation
Islamic home finance for first-time buyers
What to understand and check before you speak to an adviser, in the order it matters.
What to check, in order
Understand the structures
Learn how Diminishing Musharakah and Ijara differ before you speak to anyone.
Work out your deposit
Minimum deposits vary between providers. A larger deposit reduces the provider's share and the rent you pay.
Compare the full cost
Look at the total paid and the share you own over the same period, not just the monthly payment.
Speak to an authorised adviser
An FCA-authorised adviser can check affordability and eligibility and recommend a product.
Choose an experienced solicitor
The legal work differs from a standard mortgage, so experience with Islamic finance matters.
Questions to ask a provider or adviser
- What is the minimum deposit, and does a larger one lower my payments?
- How is the rental rate set, and when is it reviewed?
- What fees will I pay upfront, and can any be added to the finance?
- Can I make extra payments, and is there a limit?
- Who approved this product for Sharia compliance, and can I see their approval?
See what applies to you
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