business daily: How Are Islamic Mortgages Different to Conventional Ones?
28 Aug 2024 businesses.com.au
A mortgage is a convenient way of buying a home, whether you are on a tight budget or don’t want to tie up your finances in a singular asset. A financial institution provides the funds necessary, allowing you to make payments over many years.
When in the market, you’ll come across two mortgage options: Conventional and Islamic mortgages. Conventional mortgages are considered haram as they charge interest, but Islamic mortgage plans offer an alternative that aligns with Islamic principles