Taking mortgages to buy a residence in western countries : buying a house in the Netherlands

Fatawa Question

Assalamu Alaykum Wa Rahmatullahi Wa Barakatuh, I have a question about buying a house. In the moment we are a family of 6 persons (my parents, two sisters and my wife) living in The Netherlands in Europe. Next year we will be with 8 persons as my brother and his wife will join us. The house where we live in now is a rented house and is getting too small for us all (it has 3 bedrooms, a living room and an attic). Renting is xpensive, especially if you want to have a big house that is big enough for our family. We are considering the option of buying a house. This has advantages and disadvantages. An advantage is that we can afford to buy a big house, paying less money than we would have to, if we were to rent a big house or two smaller houses, since we desire to live together in one house. A disadvantage is that with buying a house we will have a debt and we will have to pay interest which is Haram. My question is : is it lawful within Islam to buy a house to be able to live with the whole family in one house instead of renting a big house (or two houses) which is more expensive ? In the moment there are no Islamic banks in the Netherlands. Could you inform us the best way to take, following the path that pleases God, the path God has chosen to be the best ? Thank you for your answer. Jazakum Allahu Khairan for your constant help

Fatwa

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Publication Date

2006-07-17

Main Subjects

Economics & Business Administration
Islamic Studies

No. of Pages

2

Data Type

Fatawa

Language

English

Record ID

BIM-788903

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