Let us help you buy your very own home!
100% Sharia-compliant and actually less expensive than through a traditional haram bank!
Being able to buy your own home is one of the greatest gifts we can contribute to. We remember ourselves how the feeling of putting the key in the lock of your very own home is priceless.
We hope to be able to let you buy your home without interest through our Ijarah-based home financing. Under this model, we purchase the property you want together with you, and lease it to you over an agreed period. Instead of paying interest, you make rental payments, and over time, you gradually buy the property from us. This structure ensures that your home financing is free from interest, making it fully compliant with Shariah law.
- Interest-Free: Your payments are rental-based, not interest-based, ensuring Shariah compliance.
- Gradual Ownership: You slowly acquire ownership of the property over the lease period.
- Flexible Terms: Tailor your financing plan to suit your needs, with clear, transparent agreements.
In order for the joint purchase to go through there are certain criterias that needs to be fulfilled both when it comes to your finances and the property. Let's talk!
170,000 SEK
1,972 SEK/mån i 12 år
*Vi tar ingen kreditupplysning innan du skickat in din ansökan
Prissättning sker efter en individuell kreditprövning och är för närvarande 7 – 17,9%. Exempel: Vid ett finansieringsbelopp om 105 000 kr med årlig rörlig vinstmarginal om 9,39% och 12 års löptid (144 återbetalningstillfällen) uppgår den effektiva räntan till 9,80%. Det totala beloppet att betala, vid oförändrad vinstmarginal blir 175 407 kr och din månadskostnad blir 1 218 kr. Årsränta per 2023-10-31.
What is Your Situation?
Planning on Buying a Home
Get pre-approved with a financing certificate to make your property hunt easier and more focused.
Learn More →Has Bought a Home
After reaching an agreement, let's finalize your purchase with Sharia-compliant financing.
Learn More →Already Have a Home and Need Refinancing
Refinance your existing mortgage with a Sharia-compliant loan that could save you money.
Learn More →When You Are Buying a Home: The Importance of a Financing Certificate
Secure your dream property with a Financing Certificate
When you're on the hunt for a property, having a financing certificate is an advantage to have. Such a document serves as proof that you are pre-approved for financing up to a certain amount. It not only demonstrates your seriousness and ability to the seller/real estate agent but also provides you with a clear understanding of your budget, allowing you to focus your search on properties within your financial means.
Step 1: Together we do a thorough evaluation of your financial situation. You'll need to provide detailed information about your income and existing financial obligations.
Step 2: Once we have agreed on your creditworthiness, we can determine the maximum amount you can buy a house for. This approval is documented in your written "financing certificate," which you can present to real estate agents and sellers when making offers on properties.
Step 3: With a financing certificate in hand, you can confidently make offers on properties, knowing that you have the financial backing to follow through. Sellers are more likely to consider your offer, knowing that your financing is pre-approved.
After Reaching an Agreement: Finalizing Your Home Purchase
Time to celebrate!
And
then let's sit down and find a Sharia-compliant financing.
To do the financing of your home Sharia-compliant and also less expensive than in traditional banks we actually buy the property together with you. You own part of it, and we own part of it. You must then pay us rent for our part over time, and as you buy more and more of the property, the rent goes down. We will upfront agree on a rate, that is fixed over the lifetime. And you know upfront how much you will end up paying for the house.
There are several reasons why this is a good setup
1) Less costly
Co-owning with you reduces our risk and "credit cost" vs a traditional haram bank. Also, our Sharia-investors have a lower profit requirement than haram-bank-investors. Therefore the cost can be lower.
2) Predictable Payments
One of the significant advantages of our Shariah-compliant financing model is the predictability of your payments. From the start, you know exactly how much you will need to pay and for how long. This clarity provides peace of mind, as you can plan your finances without the uncertainty often associated with fluctuating interest rates in traditional banking systems. The fixed payment structure ensures stability, allowing you to manage your budget confidently over the long term.
4) Flexibility
If you change your mind and want to pay more of the property earlier than what you expected, we will cheer for you and make a new lease plan. We are here for you!
5) We are partners
We are here for you. We want to give you sound financial advice so that you can buy your dream home, but at the same time not spend more than you can afford. Please let us help you in these important decisions of your life!
Next steps
We need information about:
- The house you have bought, a blocket.se link, and the contract from the real estate broker.
- Your employment/income situation and cost situation (children, cars, etc.)
- Your financial obligations as of now
- If you have any friends/relatives who could guarantee for part of the financing
Refinancing Your Home: Transitioning to Sharia-Compliant Financing
Own a Home with a Traditional Loan? Let's Make it Halal!
If you already own a home with a loan from a traditional bank but want to refinance it to be Sharia-compliant, we can help. Switching to an Islamic financing model not only ensures that your loan adheres to Islamic principles but can also offer financial benefits.
Why Refinance with Us?
1) Interest-Free
Unlike conventional loans, our refinancing options are completely free of interest (riba), ensuring that your finances remain fully compliant with Shariah law. Instead of paying interest, you'll make rental payments under our Ijarah or Murabaha models, gradually acquiring full ownership of your home.
2) Lower Costs
Our Sharia-compliant refinancing options can potentially reduce your overall costs. With our co-ownership model, the risks and costs are shared, resulting in a lower cost structure compared to traditional loans.
3) Ethical and Transparent
We operate under strict ethical guidelines, ensuring that all transactions are transparent and fair. There are no hidden fees, and all terms are clear from the start, giving you peace of mind throughout the refinancing process.
Next Steps
To start the refinancing process, we'll need:
- Your current mortgage details, including the loan amount, interest rate, and remaining term.
- Your employment and income information, as well as details about any other financial obligations.
- Your property's current market value, including a recent appraisal or valuation.
- Any documentation related to your existing loan, such as the original loan agreement and any subsequent amendments.
From our Blog
Learn more about our services and values and about Islamic Banking through thought pieces and expert articles.
Muslims faces challenges in getting into the housing market
In a recent report the government acknowledges the significant challenges Muslim immigrants face in the Scandinavian housing and financial markets. Many experience discrimination when trying to rent or purchase property, with almost half reporting refusals based on ethnic or religious background. This, combined with rising rental prices in high-demand areas, makes securing stable housing even more difficult. Additionally, there are concerns over potential discrimination in banking, as studies investigate whether immigrants are offered worse loan terms or are denied access to financial services altogether.
Read more →Government Acknowledges Muslim Housing and Banking Challenges
The Norwegian government has acknowledged the significant housing and financial challenges faced by Muslims, particularly discrimination in both sectors. Muslims often encounter difficulties securing rental properties and homeownership due to biases in the housing market, as well as limited access to favorable financial services like mortgages. These barriers hinder their social integration and contribute to economic disparities, prompting the need for targeted policies to address these issues.
Read more →Intermediary Housing Tenures in Sweden: Response to an Inaccessible Market
In Sweden, high purchase prices and long queues for rentals are pushing many mid-income households out of the housing market. New intermediary tenures like shared ownership and cooperative rentals are being introduced to address these challenges. These models present opportunities, but also risks, as financial literacy remains low among target groups. Read the full report to understand how this issue is evolving and how developers are adapting to fill this gap.
Read more →Get in Touch
We’re here to help you with any questions or concerns you may have. Whether you want to learn more about our services or need assistance with your account, our team is ready to assist you.
Contact us today and experience banking that’s ethical, innovative, and always with a smile.