Shabina S.'s community profile page

Write a review

Viewing profile for,

Shabina S.

Total reviews written

Helpful marks given to their reviews

Times reviews seen

All reviews (1)

Review of the Al Rayan Bank, Home Finance:

View on product page

Don't bother with an Islamic Mortgage

I'm been recently going through a re mortgage on my property, moving from Al Rayan to a High Street bank. Al Rayan just are not in a position to offer a good mortgage rate so I'm having to move from 4.8% interested rate to 1.3%. They just can't match that ever. I'm having to pay massive amounts of money just to transfer. I have payed £280 extra to a solicitor just for the fact it's an Islamic mortgage (a cost that Al Rayan do not tell you about when you take a mortgage out with them) I am also having to pay £500 to the management company of my flat as Al Rayan's name is on the title deeds which need to transfer to me once I move to a high street bank mortgage. That's an £800 hit just for having an Islamic Mortgage. They definitely do not tell you about all the onwards future cost and hassle you will have to go through if you ever try to re mortgage or sell your property. Also, regular conveyancers just don't have a clue about Islamic mortgages so you have to find a specialist conveyancer. Very annoying, very long winded, very expensive. Al Rayan make it expensive to be halal. Reviewed on: 13th October 2021

We are helping 1000s to make smarter financial decisions

We use the power of consumer reviews to help increase trust and transparency in financial services and to deliver industry leading insight and events.