Search results

@jules1231 instead of compounded interest, you can compound the pro rata rent payments? in terms of liability, Im not sure how it works with Islam. If the house were destroyed, in my example, would the investor leave with nothing? If so, would it be okay to apply insurance to prevent that risk...

@jules1231 but arent banks/financial institutions involved in a depreciating asset since they are also locked in a selling price?

@tessla wow, firstly congratulations! so to be clear, with Gatehouse, you own X% of your house and the bank owns (100-X%). You're slowly paying the (100-X%) off whilst also paying the rent to stay in the home on a pro rata basis? If so: How did Gatehouse calculate the rent element? Is it based...

@c2c Haha I'm quite desperate to understand how I can buy a home, but its a waste of an idea if it doesn't work. I understand that they need to provide a commercial product to the West, but thats very disappointing and why I would never use an Islamic Bank. I wonder how using market rent rates...

@c2c oh sweet. but how does Guidance Residence profit from this transaction? And how do they calculate the rent of the home? is it comparable to other homes in the area or is it different implying a riba substitute?

I would love for someone to fact check this as I am not an expert Suppose you have a 100K house that you’d like to buy, but you have only 20K. So you ask an investor to give you 80K in order to buy the house. Then out of your pocket you have two payments to make: 1. Slowly pay off 80K on a...