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Posted By Topic: mortgages

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sister1
04-16-2009 @ 3:29 PM    Notify Admin about this post
unspecified unspecified (uk)
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assalam alaikum

I currently have a traditional haram mortgage here in the Uk. I am more than keen to get rid of the riba and to have barakah in my life inshallah. I have heard of these islamic mortgages and was wondering just how islamic they are and if it is allowed. Also I wanted to know the ruling on whether it is permissible for me to stay within the haram mortgage and pay it off as soon as I can out of hajah (necessity) or to give it up and live on rent. I have a young family too. My husband would like to give it up and save until he has enough money to buy a house with cash and he is working hard to achieve this inshalah. Also, we have some debts which are linked to the hosue so if we were to sell, the debt company would seize a small portion to cover what is owed to them. I would also like to clear our debts and am wondering what is the best thing to do.

jazakallah khair






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