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

60% FTV

70% FTV

80% FTV

90% FTV

95% FTV

Discounted Variable 3.14% 3.24% 3.44% N/A N/A
Expat Discounted Variable 3.39% 3.49% 3.69% N/A N/A
Fixed 3.44% 3.54% 3.74% 4.49% 4.99%
Expat Fixed 3.69% 3.79% 3.99% N/A N/A

 

Fees Assisted Home Purchase Plans

60% FTV

70% FTV

80% FTV

90% FTV

95% FTV

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% 3.69% 3.89% N/A N/A
Expat Fixed (Fees Assisted) 3.84% 3.94% 4.14% N/A N/A

Home Purchase Plan customers in Scotland pay an 'occupancy payment' under a 'co-beneficiaries' agreement.

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