Islamic Home Purchase Plans

Salam Alaikum everyone,

Hope Ramadan is going well for everyone!

I wanted to ask the community, how does one go about making the “right” decision when it comes to buying or not buying a property in the UK. I’m aware of the options but to me, I’m not sure i can get behind Islamic mortgages. And in the end, what if they end up being haram too? How do we decide what is right?

1. Conventional mortgage (I have deliberately been avoiding this for obvious reasons, riba)

2. Islamic home purchase plans (I am not convinced of them, I know they can be certified as shariah complaint but to me I’m not sure how it’s not just conventional mortgagees with another name)

3. Renting (I personally hate this. It’s what I’m doing now and maybe it’s just my luck but so much moving in the last few years has made me interested in buying, additionally, do not want to rent forever)

4. Buy outright (would absolutely do in a second when it becomes feasible but who knows when?)