“Our streamlined digital application process – which is unparalleled in the Islamic finance market – means clients can potentially get a fair decision within minutes, depending on credit rating and risk criteria.”
See LinkedIn post here.
Offa’s BTL products – available to new and experienced landlords who are British residents or UK expats – use Islamic finance principles of co-ownership with leasing. Customers co-own the property with Offa and make monthly payments to increase their share over time.
A significant feature of Offa’s BTL product is its top-slicing option, which allows customers to use their personal income to meet affordability criteria if rental income falls short. The service is open to individuals aged 21 or over purchasing property in England and Wales, with property values between £60,000 and £1 million. First-time landlords and houses in multiple occupancy (HMOs) are also eligible.
Offa, launched in 2019, avoids interest charges and investments in sectors considered harmful, such as alcohol, tobacco, and arms.