[uzmahadia]

Is it permissible for muslim families living in wetern countries to buy home through conventional mortgage that is interest based as there is no alternative is avialable.

[firmbeliever]

Assalaam alaikum,

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Islam QA - Should he go for an interest-based mortgage if that is cheaper than renting?

Should he go for an interest-based mortgage if that is cheaper than renting?
Here in the UK; to buy a house you have to take a mortgage; that is you borrow money from the bank with interest; now I am paying rent for accomadtion; but if I take the mortgage option it works better for me as I will pay less per month, and the house will be mine; is that halal; if not what is the best way to do it?

Praise be to Allaah.

Dealing with riba (interest, usury) is haraam according to the Qur'aan, Sunnah and scholarly consensus. So it is not permissible to do that, no matter how great the need. The fact that a person may need a house or car, or to get married, or any other need, does not give him the excuse to do something that Allaah has forbidden. The Muslim has to fear Allaah and remember that He is always watching; he should prefer the Hereafter to this life. If he finds someone who will lend him the money then all well and good. If he cannot find anyone who will do that then he could borrow from a Muslim, taking a loan with no interest involved. If he cannot find anyone to lend him money then he should be patient in the hope of earning reward. Whoever gives up something for the sake of Allaah, Allaah will compensate him with something better than that.

Islam Q&A
Sheikh Muhammed Salih Al-Munajjid
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Also refer to the following links-
Islam QA - Is it permissible to rent out a mortgaged house?
Islam QA - Should he mortgage his house to a non-Islamic bank so that he can buy another house?

Wa alaikum salaam

[hmorrar]

Short and simple inshalla,

The only reason it allows anyone to take riba mortgage for housing is the same reason for example that allows a muslim to eat pork, that is if it endangers his life and family, that is there is no way to live in a house by any mean except to take this mortgage,

But if it is only for luxury and just to own a house instead of renting for example you must know that

And for those who fear Allah, He (ever) prepares a way out,
وَمَن يَتَّقِ اللَّهَ يَجْعَل لَّهُ مَخْرَجًا

[UMMA IBRAHIM]

Asalamu alaikum,
We leave in the capital city of nigeria wher the cost of renting an apartment is very high.There is this house meant for sale in the neighbourhood but we don't have the cash to buy.I advise my husband to take mortgage from a commercial bank where he worked (there is only on islamic bank in nigeria and it commence operations in 2012)but he insisted that the loan has RIBA,he can't take it.I tried to explain the "LAW OF NECCESITY" as issued by the committee of scholars in detriot in 1999,but said we haven't meet the third condition provided, because he believe that with our earnings,a six years savings can get us a house without haven to take any RIBA loan.the problem is that after the six years,we can't still afford a house in that location due to inflation, we can only afford at the outskirt of town which could be far away from our places of work.please, I need your advice, can we take the mortgage if we can liquidate it within five (5) years.