Islamic Remortgages

If you are a Muslim and want remortgage deals, which are compliant with Shariah, Halal and Muslim mortgage and financing, we at Remortgage ABC have comprehensive information about Islamic remortgages to suit your financial requirements

At Remortgage ABC, we provide you with all the relevant information needed about Islamic remortgages, all the available remortgage deals as well as the appropriate Islamic lending institutions across the UK.

If you are looking for information about Islamic Remortgages we are your one stop site. We provide detailed and comprehensive information referring to all Shariah compliant mortgage products for the Islamic community within the UK.

Statistics reveal that as many as 40,000 families from the Islamic community apply for new mortgages as well as remortgages and from these every year the Islamic population pay close to 4 billion pounds on interest alone.

Multiply this figure with numerous personal loans, business loans, hire purchases, overdrafts etc. and you can quickly see the escalating amounts paid by the Islamic community in the UK.

Remortgage Consultation

If you are not to sure about Islamic Remortgages and how they function, there are a considerable amount of remortgage brokers and lenders with dedicated teams of consultants that can assist you in this respect.

A remortgage broker can provide you with all the advice and suggestions you need to help make an informed decision on, which Islamic Remortgage deal is best for you.

The Islamic remortgage broker can also help locate the very best deals across the leading Islamic lending institutions across the UK. Instead of you having to fill out forms and go through various paperwork, they undertake the task of completing all documentation for you so that you stay worry-free and get peace of mind.

What is Shariah Law

As per Shariah Law any form of usury is strictly prohibited, which means that money cannot be used for making more money, traditional UK mortgages are strictly forbidden etc.

However, given the fact that more than two million Muslims reside in the UK, the remortgage market has started adapting itself to suit the discerning Muslim consumer.

Unlike conventional remortgages, Islamic Remortgages payments based on interest are avoided. Here, in Islamic Remortgages, the concept is to share the risk. In such a situation, lending institutions wait until the entire borrowed capital is paid off and no late fees can be charged since there is no interest over the remortgage.

However, since the lending institution is the owner they can foreclose the remortgage if the client has been delinquent too long. The entire arrangement of an Islamic Remortgage deal is such that only capital amounts need to be paid off and interest portions are not put across on the remortgage amount.

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