Depending on the terms and conditions of your current home loan contract, refinancing can be expensive. Make sure you ask your current lender what associated costs may be involved. These charges can include economic cost, deferred establishment fees or discharge fees.

A qualified Hejaz Finance consultant will review your current loan and see how we may be able to improve your current financial position.

After deciding which Islamic finance is right for your needs, your consultant will help you apply for your Islamic finance. You will need to supply us with supporting documentation in regards to the loans you are refinancing, your employment and income. Your existing lender will also need to be made aware that you will be discharging your loan with them. This will involve obtaining payout figures and submitting a discharge request.

Once Hejaz Finance has received all the necessary documentation to process your application, we will notify you and proceed to issue a letter of offer, providing all lending criteria have been met. This needs to be signed and returned to us as quickly as possible to allow us to arrange the next step.

Once we have received your signed letter of offer, we will organise settlement with your solicitors or conveyancers. This is a process where titles are exchanged.

Once all of the above steps are complete, it’s time to congratulate yourself! Welcome to Hejaz Finance.