Islamic Bank of Britain

Islamic Bank of Britain PLC

Phone: +44 (0)845 6060 786
Fax: +44 (0)121 452 7205
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Buy to Let Purchase Plan

Category
Loan
Description
Unlike a conventional mortgage where you borrow money from a lender which is then repaid with interest, the BTLPP uses the Islamic finance principles of co-ownership (Musharaka) with leasing (Ijara), where you and IBB buy the property as partners and you pay rent on IBB's share in the property.
Conditions

-Administration fee - 1.00% (min £995)
-Valuation and legal fees: Paid by the applicant(s).
-IBB will pay up to £400 (inclusive of VAT) towards the costs of our own solicitor's fees
Featured
Yes
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