You don’t need an interest-based mortgage to buy a home in the UK. Home Purchase Plans (HPPs) let you buy a property through co-ownership and rent structures — diminishing musharakah with ijara — instead of borrowing money at interest.
Here we explain how HPPs actually work, what they cost compared to conventional mortgages, who offers them (including Al Rayan Bank and Gatehouse Bank), and what to watch out for on eligibility, deposits and fees.
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