Home finance across Australia with no riba.
Ijarah-based home finance solutions
Comparable costs to others
Comparable costs to others
Flexible repayments
Flexible repayments
Purchase or refinance
Purchase or refinance
Initially, finance up to 80%
Initially, finance up to 80%
We will finance from a minimum of $50,000 to a maximum of $5,000,000 for anywhere between 5 years and 30 years with a variable rental rate.
How does Ijarah home finance work?
Our home finance agreements will use the Islamic principle of Ijarah where you buy the property over time and pay rent in the interim
You find a property and agree a purchase price
Once you’ve found the property you want to buy, you come and tell us the amount you’re buying the property for.
We appoint you as our agent to buy the property
After we do our due diligence on your ability to repay as well as valuation of the property etc, we appoint you as our agent (Wakeel) to buy the property. You agree to pay rent on the property and buy our share progressively.
The property is purchased in your name only with us taking a mortgage. We agree as part of our contract that all movements of the property price are borne by you (not us). Legally, you hold our share of the property as a custodian for us.
You pay regular instalments over the finance term until you fully own the property
Your regular instalments contain a rental amount plus payment towards buying our part of ownership in the property. Your rental payment goes down as you progressively own more and more of the property.
We transfer ownership of the property to you
Once you fully pay out our share in the property, we release the mortgage on the property – known as a discharge, and you become the full beneficial owner of the property. Congratulations!
Fantastic service, all from here in Australia.
We know how frustrating the big four can be. So all of our staff give out their direct phone numbers - so you can speak to them directly when you need to.
Ask your current provider to do that for you.
