IslamiCity.org Homepage
Forum Home Forum Home > Religion - Islam > Islamic Finance
  New Posts New Posts RSS Feed - Interest on buying house
  FAQ FAQ  Forum Search   Events   Register Register  Login Login


Interest on buying house

 Post Reply Post Reply
Author
Message
NatashaA View Drop Down
Starter.
Starter.


Joined: 18 March 2014
Location: Pakistan
Status: Offline
Points: 4
Post Options Post Options   Thanks (0) Thanks(0)   Quote NatashaA Quote  Post ReplyReply Direct Link To This Post Topic: Interest on buying house
    Posted: 13 September 2014 at 11:39am
Assalam-o-Alaikum!

We have recently moved to Australia .. and we are in very initial thoughts of buying the apartment.

Question is .. we don't have a huge sum of money to make a full payment and neither do we want to get it from bank and involved in interest.

Anyone any ideas around this. May be some way around or some knowledge of any bank that doesn't charge interest on payments.

Thanks.
Back to Top
Sponsored Links


Back to Top
lady View Drop Down
Senior Member
Senior Member


Joined: 20 September 2006
Status: Offline
Points: 314
Post Options Post Options   Thanks (0) Thanks(0)   Quote lady Quote  Post ReplyReply Direct Link To This Post Posted: 26 September 2014 at 1:24pm
as salaamaoalaikum. I don't know of any bank there that does not have interest on their loans. But I am sure that there will be at least one there. Have you thought about buying a tiny house? I am obsessed with these homes. They could be less than 800 sq ft. They are cheap to build so you don't have to worry about having a mortgage.

Edited by lady - 26 September 2014 at 1:25pm
Back to Top
Abu Loren View Drop Down
Senior Member
Senior  Member
Avatar

Joined: 29 June 2012
Location: United Kingdom
Status: Offline
Points: 1646
Post Options Post Options   Thanks (0) Thanks(0)   Quote Abu Loren Quote  Post ReplyReply Direct Link To This Post Posted: 27 September 2014 at 7:25am
Originally posted by NatashaA NatashaA wrote:

Assalam-o-Alaikum!

We have recently moved to Australia .. and we are in very initial thoughts of buying the apartment.

Question is .. we don't have a huge sum of money to make a full payment and neither do we want to get it from bank and involved in interest.

Anyone any ideas around this. May be some way around or some knowledge of any bank that doesn't charge interest on payments.

Thanks.


Wa Alaikum Asalaam

Millions of Muslims are living a lie. They have mortgages and they convince themselves that it is ok as there are no alternatives for a Muslim to buy a house.

Any giving or receiving of interest is a sin in Islam.

There are Sharia compliant banks that give mortgages without interest (but they take the money other ways but you have to look into this).

Or alternatively you can keep on renting as the mortgage on the property is not your responsibility.
La Ilaha IllAllah
Back to Top
Naykas View Drop Down
Groupie
Groupie


Joined: 11 December 2014
Location: United States
Status: Offline
Points: 40
Post Options Post Options   Thanks (0) Thanks(0)   Quote Naykas Quote  Post ReplyReply Direct Link To This Post Posted: 17 January 2015 at 8:09am
check out these two sites http://www.mcca.com.au/  and      http://www.alrayanbank.co.uk/  and let me know if it helps, I've tried myself many times bit nevcer really follow through here in the states. Maybe I can learn how it actually work this time around.
Back to Top
Naykas View Drop Down
Groupie
Groupie


Joined: 11 December 2014
Location: United States
Status: Offline
Points: 40
Post Options Post Options   Thanks (0) Thanks(0)   Quote Naykas Quote  Post ReplyReply Direct Link To This Post Posted: 17 January 2015 at 8:28am
check out these two sites http://www.mcca.com.au/  and      http://www.alrayanbank.co.uk/  and let me know if it helps, I've tried myself many times bit never really follow through here in the states. Maybe I can learn how it actually work this time around.
Back to Top
 Post Reply Post Reply
  Share Topic   

Forum Jump Forum Permissions View Drop Down

Forum Software by Web Wiz Forums® version 11.10
Copyright ©2001-2017 Web Wiz Ltd.