Related topic: Sharia finance

The partnership is part of Offa's aim to grow originations through the intermediary channel.

Previously, the Bank required customers who were buying a property in this way to contribute a minimum 5% deposit from their own personal funds.

Offa recently launched its Home Purchase Plan, a Sharia-compliant alternative to a conventional residential mortgage.

The firm has appointed three home finance advisers and a support specialist, with experience in the conventional mortgage industry.

This part of the market is estimated to be worth around £1 billion every year.

Offa has appointed a BDM for the Midlands and North and a business development support officer.

Sakeeb Zaman, CEO of StrideUp, explores how intermediaries can integrate clients’ faith into financial planning thoughtfully and ethically, and how to build trust and...

Selina has removed its debt-to-income calculation, increased its maximum borrower age, and reduced minimum loan amounts.

The digital bank says it has seen growing demand among brokers for finance for Scottish purchases. 

Offa’s HPP includes the first ever Sharia-compliant Family Assist feature.