Al Rayan Bank: Islamic Bank of Britain Mortgages
View all the mortgages and interest rates currently available with the Islamic Bank of Britain. See how these mortgage rates compare with other lenders and products. Simply use the mortgage tools to switch between lenders and different types of products to suit your requirements.
Products: Mortgage Lenders
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About Al Rayan Bank
Islamic Bank of Britain Mortgages, now Al Rayan Bank, offers its customers something a little less conventional. Most mortgages and refinances are based on moderate interest charges, whereas the mortgages and refinances at the Islamic Bank of Britain Mortgages don’t involve any interest charges and are based on joint ownership.
Al Rayan Bank is known as the oldest Sharia compliant retail bank in the UK, and also the largest. Open since 2004, we have pioneered Islamic banking and only focus on banking activities that are in keeping with the values of Islam. We help our customers to expand their homes, give their families security and buy businesses, all without compromising their beliefs.
Products & Features
Whether you are seeking finance that sits in line with your faith or you simply want some advice on your next remortgage move, Islamic Bank of Britain Mortgages can give you a helping hand in what you should do next. Here are some of the exciting products that we offer for our customers:
Buy to Let. Islamic Bank of Britain Mortgages buy to let purchase plans (BTLPP) uses the principles of Diminishing Musharaka (co-ownership) with Ijara (leasing). You purchase your BTL through the bank and pay rent on the portion that the bank owns. The bank than acquires their share through monthly acquisition payments over the term of the agreement. We can offer up to 75% loan to value, with values from £30,000 to £1,500,000. Our website can give you the full lowdown on all of the ins and outs of our BTLPP.
Home Purchase Plan. Islamic Bank of Britain Mortgages do not offer conventional mortgage options, offering instead an interest free mortgage option. From a 60% to 95% loan to value, we can have a chat with you about what you need for your mortgage, while you stay within Sharia Law. Each of our home purchase plans are laid out on our website, and one of our friendly mortgage advisors will be more than happy to discuss the options with you.
Islamic Bank of Britain Mortgages aims to ensure that customers get the best value for their money while staying in line with their beliefs. Our vision is to be the biggest Islamic bank in the UK that offers Sharia compliant products to our customers. All of our work is conducted in a fair, ethical and responsible manner, keeping our customers happy at the same time. We offer something other than the standard mortgages, while remaining professional and fulfilling our promises regarding our services and our products.