Financing house purchase in the west : buying on mortgage or renting in UK

Fatawa Question

What is the Islamic view on the western mortgage. I only ask because this is such a contradictory subject as a portion of the people will say Halal and another will say Haram. Please note that bearing in mind the price of renting property can, depending on your location in the world, often be higher than paying off a mortgage, not to mention the family that needs to be supported also. Is it therefore Halal in certain circumstances and Haram in others ?

Fatwa

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Publication Date

2003-01-15

Main Subjects

Financial and Accounting Sciences
Islamic Studies

Topics

No. of Pages

2

Data Type

Fatawa

Language

English

Record ID

BIM-725463

American Psychological Association (APA)

Qahf, Mundhir. 2003-01-15. Financing house purchase in the west : buying on mortgage or renting in UK. .
https://search.emarefa.net/detail/BIM-725463

Modern Language Association (MLA)

Qahf, Mundhir. Financing house purchase in the west : buying on mortgage or renting in UK. 2003-01-15.
https://search.emarefa.net/detail/BIM-725463

American Medical Association (AMA)

Qahf, Mundhir. 2003-01-15. Financing house purchase in the west : buying on mortgage or renting in UK.
https://search.emarefa.net/detail/BIM-725463