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As it is against Islamic law to pay or receive interest, buying a home has been a huge problem for Muslims living in Britain, with only the very rich being able to afford a house outright. But now, many banks and building societies are offering Islamic remortgage deals where the loan is arranged in such a way that the borrower pays back only the capital.
To talk through the possible options available to you, fill in our enquiry form and we will:
- Assign you a professional remortgage adviser who can assess your own personal circumstances.
- Provide you with a wide range of no obligation quotes so you can decide on the best deal available to you.
With hundreds of remortgage packages on the market, we recommend that you speak to a specialist to ensure you get the right deal for your circumstances. Take these steps beforehand to clarify your ideas:
- Decide what you are looking for in a remortgage. Would you prefer the peace of mind of a fixed-rate package, or can you be more flexible? If you’ve suffered poor credit history in the past, consider discussing this with a specialist.
- Contact your current lender for a redemption statement. A remortgage can incur various legal and arrangement charges, which you’ll need to factor into your calculations.
- Find out what deals are available. Our remortgage calculator lets you check the cost of repayments under different interest rates and loan types.
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