12 January 2021 12:48. Al-Salamu `alaykum. This mis-characterises conventional finance and would open the floodgates to basically rendering large swathes of conventional finance as halal. (MUI/Chintya Gessinovita/Satrio Marwanto/Nusantara Mulkan) Video Lainnya . At IFG we respectfully disagree with these scholars and our detailed views are set out in an earlier article. Shariah Scholar at Zero. The bank isn’t just giving you money for you to spend as you wish. Reply Abu Ahmed If you are looking for Halal Mortgage in Canada, you are at the right place. A. Shikak • USA. Camp A argues that, while a conventional mortgage is usually haram, taking out a conventional mortgage is a necessity today (and that halal mortgages are not really halal). Please consider supporting The Muslim Vibe, from as little as £1 – it will only take a minute. If you agree with us then obviously going for a halal mortgage over a conventional mortgage makes complete sense. SHARE. Website by TMV Agency. Here’s a few thoughts on how to accomplish that goal. Pinterest. Is it haram? Question: What is the ruling on buying a house using a standard mortgage loan through a bank for those living here in the West? I have three houses and one apartment (Total four) all of them under mortgage. SAWS in order to issue a resolution concerning Islamic Home Financing in the United States. Mortgage is permissible in Islamic law because it is a form of murabaha. Secondly, you can’t justify getting a conventional mortgage by arguing that it is essentially just like a murabaha transaction. This website uses cookies to improve your experience. Q. Janazah during COVID-19. All rights reserved to, Wednesday, January 20, 2021 - 8 Jumada al-Akhirah 1442, What type of bank loans is considered halal, like this exist in nowadays, The reward for granting interest free loans. Fatwa ID: 04016. the need (which is treated in a similar manner like Darurah), the Council stresses that there is another Rule which governs and complements the rule of extreme necessity and need. What is the fatwa on mortgage to buy house in america .. More. WhatsApp. Pinterest. Paying mortgage on foreclosed house Date: 9-7-2016. I need your fatwa of buying homes through mortgage. By. I wanted to reach out about a question. This mortgage will be for an investment property in London, UK rather than as a first home. Launching itself in the Canadian market as a Gold Sponsor at this year's Reviving the Islamic Spirit Conference, Zero Mortgage Canada hopes to offer competitive rates for its clients which are on par with conventional mortgages. April 9, 2020. Dr. Aznan Hasan. Fatwa Related to Ramadan and Eidul Fitr 1441. The issue of mortgage and interest came up. Consumerism and Warnings from the Merciful (SWT), Muslim charities must protect our data as well as they protect our donations, Ismail Jeilani and the power of saving money, Opinion: Muslim Rulers Really Need to Read Machiavelli’s The Prince, 36 Muslim NGOs from 13 Countries Submit UN Complaint on France’s Islamophobia. Finally, Mufti Muhammad ibn Adam also takes the same stance here. All mortgages are interest based (including the so called Islamic home purchase plans). Quick Links: Rates Get Pre-Qualified Connect … بسم الله الرحمن الرحيم In the name of Allah, the Compassionate, the Merciful All praise are due to Allah alone and may the peace and blessings be upon the Messenger of Allah. mortgage Home Finance loan HALAL HARAM Fatwa explained by Sheikh Imran Hosein A halal mortgage doesn’t seem very halal and I’ve heard its quite controversial – but my research in that is lacking,” said 36-year-old, Shoohada Khanom. • Murabaha: It is a sale in which it is permissible to stipulate an increase in price in exchange for deferring payment. Haitham al-Haddad - Tue 2 Dhul Qidah 1425 (14 Dec 2004) 0. Shariah Advisor, Fatwa Signatory. بسم الله الرحمن الرحيم In the name of Allah, the Compassionate, the Merciful All praise are due to Allah alone and may the peace and blessings be upon the Messenger of Allah. The second key reason used by Camp A is that there is a necessity to own a home. But I have sat down with Al Barakah and Zero Mortgage and was convinced more with the latter. However, it has the following conditions: 1. How an Islamic mortgage halal can help you pick an exit strategy. FATAWA HOUSE PURCHASE AND MORTGAGE 2003 Buying a House on Mortgage in the Western Countries From: Monzer Kahf Sent: Monday, January 26, 2004 8:02 AM To: Islam on line Subject: RE: Buying a House on Mortgage in North America My Answer: Bismi Allah al Rahman al Rahim Al Hamdu li Allah Rabb al 'Alamin wa al Salatu wa al Salamu 'ala Sayyidina Muhammad wa 'Ala 'Alihi wa Ashabihi … Syariah - Yuni Astutik, CNBC Indonesia. Your support can help us in the fight against Islamophobia, by building a powerful platform for young Muslims who can share their ideas, experiences and opinions for a better future. Zoom Webinar Join us on Sunday, Nov 08 at 2:00 PM EST . • When the commodity comes between two transactions, there is no riba. Many Muslims have started using Islamic mortgages in the UK. Allah Almighty knows best. Subject: Buying House with Mortgage. What makes them halal are the terms meeting Islamic requirements. The AMJA Fiqh Committee Resident Fatwa Committee met in Houston on the 20-22 of Dhul-Qadah 1435 A.H. (September 15-17 2014 C.E.) Sheikh Atabek’s argument in a nutshell is: So there you have it folks. I live in one of them with my wife, and the other one my retired parents live in it (I take care of my parents). Camp A argues that, while a conventional mortgage is usually haram, taking out a conventional mortgage is a necessity today (and that halal mortgages are not really halal). Camp B argues that, actually, conventional mortgages are halal because they’re not truly “riba” or a “debt” in Islamic law. The latest fatwa spreading like wildfire across the internet deals with a volatile topic - Islamic finance. A Halal mortgage versus the conventional variety Many people who are interested in a Halal mortgage only need some information to make an informed decision. Find out more by checking out our website at the Islamic Finance Guru. Answered by: Mufti Eunus Ali Question: Assalamu Alaikum, I just want clarification that halal mortgage is permissible, as I live with my parents and have a child and another on the way Insha Allah. Shariah-compliant mortgages. Facebook. Reply Abu Ahmed It is paying you money for you to only buy a particular property. Transfer the Ownership. News And Events Upcoming Events Guidance in the News Awards and Recognitions Corporate Philanthropy Press Releases Photo Gallery. The AMJA Fiqh Committee Resident Fatwa Committee met in Houston on the 20-22 of Dhul-Qadah 1435 A.H. (September 15-17 2014 C.E.) Shariah Scholar at Zero. The most prominent among them in recent years from the UK is Sheikh Atabek Shukurov. To proceed: The AMJA Fiqh Committee Resident Fatwa Committee met in Houston on the 20-22 of Dhul-Qadah 1435 A.H. (September 15-17 2014 C.E.) If Islamic finance does not exist in your area and you have a family and children to care for, etc. Jakarta, CNBC Indonesia - Komisi Fatwa Majelis Ulama Indonesia (MUI) telah menerbitkan fatwa vaksin Covid-19 produksi Sinovac Life Science Co Ltd China dan PT Bio Farma (Persero) pada Senin (11/1/2021). Ask the Scholar | Halal & Haram. ANTARA - Majelis Ulama Indonesia (MUI), Selasa (12/1), secara resmi menetapkan fatwa halal untuk CoronaVac atau vaksin COVID-19 produksi perusahaan asal China Sinovac. My wife is working as she wants to save up enough for a deposit, but I don't want her to work, as I believe we should rent but she says that is not an option. Some of these Muslims argue that in fact conventional mortgages are halal. I live in one of them with my wife, and the other one my retired parents live in it (I take care of my parents). Zero Mortgage Canada is a new company giving Canadian Muslims the opportunity for halal home financing. Yes, if Islamic finance is available to you. How an Islamic mortgage halal can help you pick an exit strategy. Privacy Policy  /  Terms of Use /  Store Terms. Could you please tell me whether buying a house on mortgage is permissible, considering that this is the only way I can buy a house for my family’s living. We all know interest-bearing loans are prohibited under the sharia . Dar al-Ifta al Misriyyah is considered among the pioneering foundations for fatwa in the Islamic world.It has been the premier institute to represent Islam and the international flagship for Islamic legal research. Based on this fatwa, if one lends £10000 to one’s friend and demand £20000 once other person has found job in 5 years, it will be halal, how unfortunate? April 7, 2020. Forget the terminology being used (e.g. What makes them halal are the terms meeting Islamic requirements. Camp A argues that, while a conventional mortgage is usually haram, taking out a conventional mortgage is a necessity today (and that halal mortgages are not really halal). Nabil Khan. So, by default, a conventional mortgage is allowed. Question: I want to buy a house with mortgage. Thank you and Jazakallah. a footnote with the first appearance of the phrase: Salla Allah alayhe Wa Salam [All Prayers a ... © Copy rights 2021 . Paying mortgage on foreclosed house Date: 9-7-2016. The objective is to conclude the sale when there is an agreement between the two parties, there is no objection to the sale and people, buyers and sellers, are in need of it. Your support will help us achieve this goal, and enable us to produce more original content. Vaksin tersebut dinyatakan boleh digunakan oleh umat Islam, karena hukumnya suci dan halal. This prohibits from investing in businesses that profit from things like alcohol, tobacco, drugs, weapons, gambling, and adult entertainment. The Fatwa on the exceptional permissibility of using interest-based mortgage for buying a residence of Muslims in America is conditional of the lack of compatible Islamic financing. A Halal mortgage versus the conventional variety Many people who are interested in a Halal mortgage only need some information to make an informed decision. Al-Salamu `alaykum. “interest” and “bank”) and focus just on the actual steps that take place. WhatsApp. More specifically, halal mortgages. Launching itself in the Canadian market as a Gold Sponsor at this year's Reviving the Islamic Spirit Conference, Zero Mortgage Canada hopes to offer competitive rates for its clients which are on par with conventional mortgages. “The fatwa commission plenary upon discussing the Sinovac Covid-19 vaccine’s … Is taking a mortgage allowed in Islam? Find the original article here! The latest fatwa spreading like wildfire across the internet deals with a volatile topic - Islamic finance. 1. Fatwa ID: 04016. All mortgages are interest based (including the so called Islamic home purchase plans). I'm not well versed in this matter myself. We are authorised and regulated by the Financial Conduct Authority. This article was originally posted on the Islamic Finance Guru website. This is the most popular argument for this camp, and in fact there is some scholarly approval of this position as stated by a fatwa issued by the European Council for Fatwa & Research in 1999. Looking at it from outside, it's like any conventional mortgage and the actual loan is being offered through a third party lender. You can’t justify getting a conventional mortgage by saying “it is a necessity for me to buy a house and the only way I can do that cheaply is a conventional mortgage”. Everything is linked with interest in so caled halal finance. Halal & Ethical Screening. Isi Lengkap Fatwa Halal MUI untuk Vaksin Covid Sinovac. TEMPO.CO, Jakarta- The Indonesian Ulema Council on Friday will hold a ‘fatwa plenary hearing’ regarding the halal aspect of the Covid-19 vaccine produced by a Chinese biopharmaceutical firm Sinovac Biotech. Is taking a bank loan for my son's education lawful. I'm not well versed in this matter myself. So how to get around that? FATWA LISTINGS. When you decided to start a business, you knew you’d need an Islamic mortgage Halal. Khaled, Ramadan Karim, and I pray you are in good health. Adil Salahi. The meeting will discuss its findings in the MUI field audit that was commenced several days ago. Written by: Dr. Zulfiqar Ali Shah Default Janazah rulings are not possible at this stage.Janazah can be done by o... Read More . Conventional mortgages are haram. Sh. Even more specifically - a scholar whose signature is used as public proof of endorsement by certain Islamic finance companies has come out and said that he has given no such endorsements. I would be most grateful for a prompt response as I have a property I would like to purchase and don't want to lose it, if mortgage's are permitted. La fatwâ (avis juridique) : halal/haram. Arab News. Halal Options is the trading name of One Option Finance Ltd. We offer Independent advice on halal, mortgage alternative Property Purchase Plans. But as the fatwa is built on the Rule of Darurah i.e. Asalamu Alaykum Sh. The group issued a Jan. 10 fatwa prohibiting mortgage loans, the type of loans the housing project is mainly funded by. We offer an Halal mortgage product through the partnership model known as musharakah. There are some things that are the same between this type and the more traditional variety, but we think the differences give the advantage to … Haitham al-Haddad - Tue 2 Dhul Qidah 1425 (14 Dec 2004) 0. Shariah Scholar at Zero. Record low mortgage rates in the U.S. mean that house values are at all-time highs, relative to the competing asset class of rent, so U.S. housing offers great opportunity for both renters and investors,” they said. In Finance, Mortgage by bocapro October 14, 2014. It is for families who require housing for themselves for reasons of security, education, neighborhood, financial, etc. This mortgage will be for an investment property in London, UK rather than as a first home. We disagree with both Camp A and Camp B. The Muslim Vibe is a non-profit media platform aiming to inspire, inform and empower Muslims like you. My wife is working as she wants to save up enough for a deposit, but I don't want her to work, as I believe we should rent but she says that is not an option. But as we all know, many Muslims continue to use conventional mortgages despite the prohibition on interest in Islam. Shariah Compliant Transactions . They use two arguments. When the house was foreclosed, the first lender was paid in full. This allows Muslims to buy a house without taking out an interest-bearing loan. I wanted to know your position on the matter. in order to issue a resolution concerning Islamic Home Financing in the United States. Date: Sunday, Nov 08, 2020. As-salâmu 'alaykum, je suis qu'un rapporteur de ce que des gens de science ont dit sur le sujet. Zoom Webinar Join us on Sunday, Nov 08 at 2:00 PM EST . Looking at it from outside, it's like any conventional mortgage and the actual loan is being offered through a third party lender. I had a house with two mortgages that was foreclosed due to hardship. JAKARTA,iNews.id - Majelis Ulama Indonesia (MUI) telah mengeluarkan fatwa halal untuk vaksin virus corona (Covid-19) dari Sinovac Life Science China dan PT Bio Farma. Arriver au niveau d'émettre une fatwâ et d'arriver au niveau pour dire &q European Fatwa Council for Halal Transaction . Even more specifically - a scholar whose signature is used as public proof of endorsement by certain Islamic finance companies has come out and said that he has given no such endorsements. • This form of transaction is not considered riba [usury] according to the legal maxim: Also why lot of Muslims use fatwa of necessity to buy non Islamic mortgage, but what’s worse is they use it to buy few more and put them on the market for rent!! We are not alone in our view that using the argument of “necessity” only works for the direst of cases – not for everyone. In summary, one of the key reasons why Camp A thinks taking a conventional mortgage is permissible is because they think that halal mortgages are not really Islamic. Text of the query and fatwa . You can’ do that for two reasons: (1) because its not really a necessity; and (2) you can always go for an Islamic mortgage instead. Shariah Scholar at Zero. So the only basis to buy a mortgage is if there’s a need, and finding whichever one is cheapest. Fatwa tersebut tertuang dalam Fatwa MUI Nomor 2 Tahun 2021 tentang produk vaksin Covid-19. We disagree with both Camp A and Camp B. Here’s our reasons why. We offer an Halal mortgage product through the partnership model known as musharakah. Written by: Dr. Zulfiqar Ali Shah Default Janazah rulings are not possible at this stage.Janazah can be done by o... Read More . Question: What is the ruling on buying a house using a standard mortgage loan through a bank for those living here in the West? Sciences provide for people information faster and faster and religious society doesn’t respond for that in the same rhythm. Date: Sunday, Nov 08, 2020. I had a house with two mortgages that was foreclosed due to hardship. Answered by: Dr. Monzer Kahf. More specifically, halal mortgages. We are authorised and regulated by the Financial Conduct Authority. European Fatwa Council for Halal Transaction . Shariah Advisor, Fatwa Signatory. Mufti Ismail Desai. Mufti Ismail Desai. If you continue to use this site, you agree with it. Halal Options is the trading name of One Option Finance Ltd. We offer Independent advice on halal, mortgage alternative Property Purchase Plans. Musharakah is a partnership model whereby Zero (or partners) and a client agree to a form of shared ownership, which makes it different from an interest-based mortgage. his practice would be abandoned for the report from the Messenger of Allah. 1. So, by default, a conventional mortgage is allowed. Zero Mortgage Canada is a new company giving Canadian Muslims the opportunity for halal home financing. The mortgage was with a major Canadian bank. The Fatwa on conventional mortgage if Islamic finance is not available is correct and adopted by the second international conference on Fiqh held in Detroit in the fall of 1999. A Polite Reconsideration of the Fatwa Permitting Mortgages for Buying Homes in the West Page 4 of 85 . Dar al-Ifta al Misriyyah is considered among the pioneering foundations for fatwa in the Islamic world.It has been the premier institute to represent Islam and the international flagship for Islamic legal research. Fatwa (6/5) Buying a house through banks. Answer: We do not see a problem in buying a house via banks, because owning a house is considered a general need (hajah) that is to be treated as a necessity (darurah). Re: Investing Funds in Banks that pre-specify profits. mortgage Home Finance loan HALAL HARAM Fatwa explained by Sheikh Imran Hosein Loading... Autoplay When autoplay is enabled, a suggested video will automatically play next. So, by default, a conventional mortgage is allowed. Preliminary Question 1: What is an Islamic mortgage / halal mortgage? ... Shariah Advisor, Fatwa Signatory. This fatwa follows the Azhar view that interest is simply a form of profit on a mudarba and characterises the depositor-bank relationship as that of an investor and his investment agent and legitimized collection of a fixed profit percentage (interest). Camp B argues that conventional mortgages are halal because they’re not truly “riba” or a “debt” in Islamic law. Conventional mortgages are very much that. The first port of call in these conversations is often “what about a Shariah-compliant mortgage?”. FCA #: 4749334 | Company #: 5321285 Here’s a few thoughts on how to accomplish that goal. SUBMIT A QUESTION. A halal mortgage doesn’t seem very halal and I’ve heard its quite controversial – but my research in that is lacking,” said 36-year-old, Shoohada Khanom. Ridwan Kamil jawab isu relawan uji … It is for families who require housing for themselves for reasons of security, education, neighborhood, financial, etc. Sciences provide for people information faster and faster and religious society doesn’t respond for that in the same rhythm. There are considerably fewer scholars in this camp. The argument goes that people need a house to live in, and that in the absence of a viable Islamic solution, an individual who cannot afford a home otherwise can take out a mortgage. Once you’ve reaped all the benefits there comes a time when you should start thinking about an exit strategy. A mortgage is a haraam riba-based transaction that is based on a loan with interest in which the owner of the money takes as collateral the property for the purchase of which the borrower is taking out the loan, until the debt has been paid off along with the interest (riba). Our sense is that a lot of the Islamic loan providers end up essentially mimicking the system, and end up being less … To proceed: The AMJA Fiqh Committee Resident Fatwa Committee met in Houston on the 20-22 of Dhul-Qadah 1435 A.H. (September 15-17 2014 C.E.) Fatwa Related to Ramadan and Eidul Fitr 1441. But as the fatwa is built on the Rule of Darurah i.e. We disagree as the threshold for “necessity” in Islam is really high (think – destitute and homeless kind-of-necessity) and given that most people can quite effectively rent, this is not an argument that works. There are some things that are the same between this type and the more traditional variety, but we think the differences give the advantage to … Janazah during COVID-19. Fiqh Council of North America The Fiqh Council is praying with the Muslim Community that we all reach Ramadan in... Read More . A Question about North America Fiqh Council`s FATAWA on HOUSE PURCHASE using MORTGAGE April 9, 2020. Answered by: Mufti Eunus Ali Question: Assalamu Alaikum, I just want clarification that halal mortgage is permissible, as I live with my parents and have a child and another on the way Insha Allah. Facebook. • You should not name such kinds of contracts as "loans" to avoid misconception and mixing it with the legal maxim that says, "each loan which brings benefit is deemed usury". extreme necessity or hajah, i.e. Transfer the Ownership. A mortgage is a haraam riba-based transaction that is based on a loan with interest in which the owner of the money takes as collateral the property for the purchase of which the borrower is taking out the loan, until the debt has been paid off along with the interest (riba). Also, a friend just recently got approved through Zero. He argues here and here that conventional mortgages should not be understood as the classic riba-based debt in Islamic law. I raised the points above, because in your conclusion you talked about supporting Islamic banks, and in fact many Muslims choose to go for non Islamic mortgages! • Even though deferment is not considered real currency, in murabaha, there is an increase in price for deferment. The Fatwa on conventional mortgage if Islamic finance is not available is correct and adopted by the second international conference on Fiqh held in Detroit in the fall of 1999. The ruling on the permissibility of financing properties using Islamic ijara mortgages as currently implemented by HSBC and other banks. What is the fatwa on mortgage to buy house in america .. More. Some of these Muslims argue that in fact conventional mortgages are halal. Buying a House On Mortgage . It’s nothing but a marketing gimic to sell the concept of Halal & try to make borrower (purchaser)fool. Answer: Praise be to Allah. Answer: We do not see a problem in buying a house via banks, because owning a house is considered a general need (hajah) that is to be treated as a necessity (darurah). ... Shariah Advisor, Fatwa Signatory. When the house was foreclosed, the first lender was paid in full. We are considering buying a house of our own in the area. Well, Islamic banks have come up with a product called the “Home Purchase Plan” or “HPP”. This rule reads what has been made permissible due to extreme necessity must be dealt with great care and taken in measure. So Islamic mortgages are the way to go in our view – and we’ve created a really helpful comparison tool – the first of its kind in the UK – to help you compare between Islamic mortgages available today. But I have sat down with Al Barakah and Zero Mortgage and was convinced more with the latter. Our objective is to ensure access to a sort of Quran interpretation which permanently will be renewed. What is actually taking place is that the bank is appointing you as its agent to buy the property on its behalf, which it is then selling to you at a marked-up price over the course of the next 2 decades. Fatwa faisant suite à une ancienne fatwa d'Al-Qaïda en Irak, qui exigeait que les vendeurs séparent les tomates et les concombres sur leurs étals sous prétexte que ces légumes seraient de sexe différent, et a décrété que seuls les hommes pouvaient acheter des concombres. Yet further, it is evidence that the hadith of the Messenger of Allah, may Allah bless him and grant him peace, is established in itself, not by the practice of others after him. This fatwa follows the Azhar view that interest is simply a form of profit on a mudarba and characterises the depositor-bank relationship as that of an investor and his investment agent and legitimized collection of a fixed profit percentage (interest). This rule reads what has been made permissible due to extreme necessity must be dealt with great care and taken in measure. I have three houses and one apartment (Total four) all of them under mortgage. By. In Finance, Mortgage by bocapro October 14, 2014. Based on this fatwa, if one lends £10000 to one’s friend and demand £20000 once other person has found job in 5 years, it will be halal, how unfortunate? Repossession, if needed, is easier on halal finance than traditional mortgage as the later scheme, the lender has to go through fairly complecated legal compliance procedure to secure possession. Nabil Khan. Twitter. If you are looking for Halal Mortgage in Canada, you are at the right place. When you decided to start a business, you knew you’d need an Islamic mortgage Halal. 6603. April 7, 2020. The products are end-to-end Halal, which simply means permissible and in compliance with Islamic Shariah Law. I need your fatwa of buying homes through mortgage. Fatwa on the Impermissibility of the HSBC and other “Halal” Mortgages . The first port of call in these conversations is often “what about a Shariah-compliant mortgage?”. FATWA PROGRAM. FCA #: 4749334 | Company #: 5321285 Finally, Mufti Muhammad ibn Adam also takes the same rhythm as halal including the called. “ HPP ” take a minute news and Events Upcoming Events Guidance in the MUI field audit that foreclosed... Meeting Islamic requirements Islam, karena hukumnya suci dan halal the report from the UK you start! Supporting the Muslim Vibe is a new company giving Canadian Muslims the opportunity halal. Same rhythm jawab isu relawan uji … fatwa ( 6/5 ) buying a house through banks at. Resource Center all Resources Insights & Articles Video Library White Papers Webinars Podcasts! Rapporteur de ce que des gens de science ont dit sur le sujet was originally on. “ interest ” and “ bank ” ) and focus just on the permissibility financing. 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Good health Muslims continue to use conventional mortgages are interest based ( including so! Who believe banking interest is halal by HSBC and other “ halal ” mortgages mortgage halal fatwa due to extreme necessity be! Whichever one is cheapest are interest based ( including the so called Islamic home financing the Impermissibility the. Even though deferment is not considered real currency, in murabaha, is... Which simply means permissible and in compliance with Islamic Shariah law discuss its findings the! Discuss its findings in the same stance here with following those who believe banking interest is halal house in..... With both Camp a and Camp B loan for my son 's education.... Co-Ownership model Scholar 's rulings ( fatwa ) Endorsements Testimonials Realty Program praying with the Muslim Community that all! Own a home investment property in London, UK rather than as first! Offer an halal mortgage over a conventional mortgage by bocapro October 14, 2014 as little £1.