I would be buying the home for my family so it will be at-least 4 bedroom, id like to stay around the London area so im looking at around close to 500k. I have looked into halal mortgages from islamic banks but many scholars have different point of views and some say it is not really sharia compliant. Interest is still being taken but they just call it something else. Another option would be buying a property with shared ownership. Ill be able to buy as much as the property I like over time and in the meanwhile I will need to pay rent for the share of the house I don’t own. The more I buy the less rent I pay until eventually I own the entire property. There is no interest involved here and is sharia compliant.
Is there any better sharia compliant method to buy a home than this?
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