Alternatives of financing such as rent-to-own, etc.

  • Erstellt am 2023-04-23 12:05:05

HilfeHilfe

2023-04-24 06:07:45
  • #1
Just inquire at a Turkish bank

Then everything is Halal
 

Grundaus

2023-04-24 09:53:55
  • #2
Hire purchase or partial sale is an absolute exception despite all the advertising. There was or perhaps still is the purchase of housing entitlements in Austria. One buys a right to reside but does not acquire ownership.
 

Tassimat

2023-04-24 15:34:08
  • #3
How about an inquiry at the Islamic KT Bank? They advertise with Sharia-compliant financing models.

Otherwise, borrow money from friends and family?
Otherwise, the only option left is to seek advice in the community or mosque on how other believers have solved this.
 

ypg

2023-04-24 17:36:48
  • #4
No. This is already "prohibited" by the fact that the landowner will be the owner of the house built on it. So if I, as an entrepreneur, wanted to build a house on your land, I would not find a bank to pre-finance it for me, since the house would not belong to me but to you. I see the opposition to capitalism as controversial regarding the topic of property ownership or acquisition. That does not fit. There is a major misunderstanding.
 

Tassimat

2023-04-24 22:34:41
  • #5
Criticism of interest is not the same as criticism of capitalism. Bazaars in Islamic countries are capitalist hotspots. If you set religious, ethical, moral, or other framework conditions for yourself, that’s okay. If you don’t like interest, you can find a bank that adds up all normally due interest for a full repayment loan and lists it as a closing fee. Then the total sum is repaid over term X and nowhere does the word interest have to appear. Things like partial repayments and corresponding interest savings could be renamed as discounts or bonus payments. As I said, there is a German bank that can finance real estate according to Islamic principles. It would be very interesting to learn how that works with banking supervision and other legal regulations. This all reminds me of the euphemism “savings plan with immediate payout.”
 

ypg

2023-04-24 22:40:27
  • #6

It’s not about dodging the word interest to lure someone who has a problem with interest. It’s more about the attitude “I don’t like paying interest.”

And Islam could also be put in brackets once.
I don’t see anything from the original poster that indicates otherwise.
 

Similar topics
17.08.2013Financing offer - Interest okay? Your opinion...10
08.04.2015Offer of financial consulting - Is the interest rate okay?15
18.04.2015Is a building savings contract still worthwhile with the current interest rates?10
28.06.2015Building a house - building savings contract with bad interest rates23
28.05.2016Annuity loan - Offered interest rates / Key points?17
22.06.2016Is a TA loan sensible? Interest and loan offer are okay13
27.03.2017Forward loan - Secure interest rates now?53
25.10.2018How do you take the interest into account from the purchase of the land until moving in?59
12.09.2021Purchase financing: how much equity (with the low interest rates)?27
11.07.2022House construction still realistic despite rising interest rates / construction costs?54
29.09.2022High interest rates with fixed interest, alternative flex loans?54
22.03.2024Home purchase financing despite high interest rates?24

Oben