Get a home of your own with a Sharia compliant mortgage
There is a range of Sharia-law compliant buying schemes available on the market. Which one is right for you will depend on your individual affordability and whether you meet the eligibility criteria. Find out more about these schemes below. At Tembo, we don't advise on Sharia-law compliant mortgages, but we do advise on a range of other buying schemes and over 20,0000 mortgages. Complete your details with us online today to see what you could be eligible for.
Buy without a mortgage with a home purchase plan
Schemes are certified Sharīʿah compliant
Buy more of the home over time
What are Sharia compliant mortgages?
Sometimes called Islamic Mortgages or Sharia-law compliant mortgages are technically not mortgages. Instead, they are normally home purchase plans that help you buy a home in a way that doesn’t involve paying interest or taking out a loan. You'll agree to purchase a share of the home, then buy more of it over time.
Islamic mortgage alternatives are complex products, so it's worth talking to experts to help you find the right scheme for you. Please note, at Tembo we do not currently advise on Sharia-compliant buying schemes, but we can help you discover ways you could get on the ladder through alternative options.
Explore approved Sharia compliant buying schemes
All of the Sharia-compliant schemes listed below are approved by either the Islamic Council of Europe or Amanah Advisors.
StrideUp
Borrow up to 6.5x your income with StrideUp's smart home purchase plan. You'll buy the share of the home you can afford now, and StrideUp will co-purchase the remainder. Over time, you'll build up your equity stake through the monthly payments to gradually increase the amount of the property you own.
Your Home
Your Home's part buy, part rent scheme lets you buy a share of a home, then pay rent on the rest. You can choose to purchase more of the home over time or sell your share, benefitting from any property value gains. Plus, you're entitled to 50% of the value increase on the share you didn't buy, too.
Wayhome
Through Wayhome's Gradual Homeownership scheme, you could live in a home worth 10x your income. You'll buy a share of the property then pay rent on the rest, choosing to buy more of the property each month or in lump sums when you're ready.
