12 September 2016: Al Rayan Bank (UK) today announced that it has made ethical, Sharia compliant home finance more affordable to homeowners and landlords with the announcement of the lowest ever rental rates on its Home Purchase Plan (HPP) and Buy to Let Purchase Plan (BTLPP) products.
Effective from 1 September 2016, HPPs are available with fixed rental rates as low as 2.44%*, whilst BTLPPs are available with fixed rental rates from 2.99%*. In addition, the Bank has reduced the fixed rental rate of its 90% finance to value HPP, which is backed by the Government’s Help to Buy scheme by 0.8% to 3.69%^. All rental rates on its other HPP and BTLPP products have been reduced by up to 0.5%.
For homeowners, the following HPP rental rates now apply to new customers:
• 60% finance...