-
Mortgage
Assalam O AlaikumI
I have a question regarding mortgage, house loan in Belgium. We want to buy a house for living as in a few years we changed many houses on rent which is not easy so i listed to Ghamidi sahib in an interview regarding mortgage loan. If we buy a house through bank then in 25 years we need o return that money in installment and on top of capital they also charge some interest, rent admin charges. My question is is it allowed of we buy such a house with bank loan for our own living. Also in your own house you have more freedom as compared to rented house where somtime the owners are not nice. Can you please guide me on this if it is permissible in Islam. Thanks so much in advanxe. Jazaka Allah khair.
-
6 Replies
-
Mortgage
updated 2 years, 4 months ago
2 Members
·
6
Replies
-
There’s no problem in obtaining a mortgage to buy a house. For a short response by Ghamidi sahab, please watch the video in the following thread:
Ghamidi sahab went into a lot of detail on the issue of riba in his Response to 23 Questions series. Should you require details you can refer to:
-
Thanks so much for your swift response and for your link to the detail video. I just try to clarify the mortgage system in Belgium, the bank is not buying the house, you buy the house and bank gives you money which is then paid in the 300 monthly installment with interest and rent.
Can you please clarify if in Islamic Sharia we can buy a house on this system for our own living.. Thanks
-
In my knowledge the bank never gives you the money. They directly pay the seller for the house, which is essentially the same thing as buying you the house. In Ghamidi sahab’s opinion there’s no prohibition for this.
-
Thanks so much for your swift response and you are right as the bank is paying the seller on my behalf. So in the bank agreement they use an interest and APR rate for additional charges which should be considered the rent. Am i correct?
Thanks and my best regards,
-
Salam Sir, can you please give me a fatwa where it is mentioned the mortgage from conventional bank is permissable in Islam in Europe? Thanks
-
Sorry I don’t give fatwas but I have shared the relevant information with you by Ghamidi sahab.
Sponsor Ask Ghamidi
