How is your home finance product different to a traditional mortgage?

The big difference is that there is no interest (riba). When you buy a property with a
conventional mortgage, a bank typically lends you the money and then charges
interest on that loan.

Offa’s Home Purchase Plan allows customers to buy a property following Islamic
finance ethical principles, where charging or paying interest is forbidden. Instead of
using interest, our HPP involves the Islamic finance principles of co-ownership-with-
leasing. The customer acquires the property in partnership with us and makes
monthly payments to increase their share, paying rent on the portion they do not yet
own.

At the end of the agreement, the customer owns the property outright, without ever
paying interest.

Also, Offa does not invest in industries considered harmful to society such as the
arms trade, animal testing, gambling, alcohol, or tobacco.