Sakeeb Zaman, founder and CEO of halal finance company StrideUp, outlines the fundamentals of Islamic financing in home purchases, and explains why conveyancers should be aware of this increasingly popular model.
Islamic home finance has grown steadily in recent years. Britain’s housing market remains challenging, with 40% of young adults reportedly unable to afford one of the cheapest homes in their area even with a 10% deposit. At the same time, around 7% of the UK population identifies as Muslim, many of whom seek financial structures aligned with their faith principles. Industry analysts estimate the global Islamic finance market is growing at a compound annual rate of approximately 11%.
Islamic home finance is no longer a niche product discussed only within specialist circles. As awareness grows and transaction volumes increase, conveyancers across the UK are increasingly encountering Home Purchase Plans (HPPs) as part of mainstream residential property transactions.
For legal professionals, the key question is not whether demand is rising, it is how these structures operate in practice, and how they affect the conveyancing workflow.
A structure that looks familiar, with important differences
At its core, Islamic home finance replaces interest-bearing debt with a partnership-based structure. Under a typical Home Purchase Plan, the customer and provider acquire the property jointly. The customer then gradually purchases the provider’s share over time while paying rent on the portion they do not yet own.
From a conveyancing perspective, much of the legal process will feel familiar. Contracts are negotiated, local authority and environmental searches are conducted, and title is reviewed to ensure compliance with UK property law. Completion mechanics remain aligned with established conveyancing practice.
However, there are structural distinctions that solicitors must understand.
An HPP is not a loan secured by legal charge alone; it is a co-ownership and lease arrangement governed by both UK property law and Shariah (Islamic law) governance standards. As a result, transactions typically involve three solicitors: one representing the customer, one representing the home finance provider, and one acting for the seller.
The separate representation on the finance side is sometimes perceived as complexity. In practice, it is a governance safeguard. Separate representation ensures clarity of ownership rights, lease terms and documentation, while maintaining alignment with both UK legal requirements and Shariah principles.
For conveyancers, the implication is not a fundamentally different transaction, but one requiring clear understanding of documentation and structure.
Where frictions can rise
As with any specialist product, unfamiliarity can introduce delays. Queries may arise around co-ownership agreements, lease mechanics, documentation sequencing or provider-specific property eligibility criteria.
These issues are rarely structural obstacles; more often they reflect limited exposure to the model. Similar dynamics are seen in other specialist areas of property finance, such as shared ownership or complex buy-to-let structures.
As transaction volumes increase, consistency and familiarity become increasingly important. Providers operating in this space are therefore focused on clearly defined documentation requirements, early engagement with legal representatives, structured communication between all parties, and panels of solicitors experienced in Islamic home finance transactions.
The aim is not to alter the conveyancing process, but to ensure that expectations are set early and documentation is understood before completion timelines are pressured.
A market moving from niche to regulated alternative
The UK has a well-established regulatory framework for home finance, and Islamic structures operate within that same environment. As institutional participation in Islamic home finance grows, the sector is increasingly integrated into the wider property ecosystem rather than sitting apart from it. Recent securitisation activity, such as StrideUp’s recent RMBS issuance – the first such deal in seven years – also demonstrates that these structures can operate within established capital markets frameworks while maintaining their underlying governance principles.
For conveyancers, this shift matters. As more customers seek faith-aligned structures and as providers scale within regulated parameters, familiarity with these models will become part of mainstream residential practice rather than a specialist exception.
The opportunity for the legal profession is straightforward: to approach Islamic home finance not as an anomaly, but as an alternative regulated structure with defined documentation, governance safeguards and established transaction mechanics.
Understanding the nuances early reduces friction later.
As the market continues to mature, collaboration between providers, brokers and conveyancers will remain essential in ensuring transactions progress smoothly and transparently for all parties involved.
About the author
Sakeeb Zaman is the founder and CEO of StrideUp, leading its mission to become the trusted provider of halal finance in the UK. He started StrideUp with a clear goal: to build a financial system where Muslims can access modern, fair and transparent products without compromising their faith. Before founding StrideUp, Sakeeb worked at Deutsche Bank in structured finance and fixed income, gaining a deep understanding of how global financial systems are built and scaled. His experience across markets gives StrideUp both the technical grounding and the strategic vision to grow responsibly while staying rooted in Islamic principles. Under his leadership, StrideUp has become one of the UK’s leading Islamic fintechs. In 2025, the company was named the fifth fastest-growing fintech in the UK and Ireland, and one of Europe’s top 50, recognised for redefining what shariah-compliant finance can look like today and proving that faith-aligned finance can thrive in the mainstream. Sakeeb holds a master’s degree in Physics and Philosophy from the University of Oxford.