Home Purchase Plan
The customer and Bank purchase the property together; over time the customer acquires the Bank's share, paying rent on the portion they do not yet own.
Al Rayan Bank's Sharia compliant Islamic mortgage alternatives (Home Purchase Plans or HPPs) are based upon the Islamic finance principles of co-ownership (Diminishing Musharaka) and leasing (Ijara).
View our complete range of Home Purchase Plans
Home Purchase Plans
|Expat Discounted Variable||3.39%||3.49%||3.69%||N/A||N/A|
Fees Assisted Home Purchase Plans
|Disocunted Variable (Fees Assisted)||3.29%||3.39%||3.59%||N/A||N/A|
|Expat Discounted Variable (Fees Assisted)||3.54%||3.64%||3.84%||N/A||N/A|
|Fixed (Fees Assisted)||3.59%||3.64%||3.84%||N/A||N/A|
|Expat Fixed (Fees Assisted)||3.74%||3.84%||4.04%||N/A||N/A|
Home Purchase Plan customers in Scotland pay an 'occupancy payment' under a 'co-beneficiaries' agreement.