{"id":207,"date":"2019-04-14T14:28:50","date_gmt":"2019-04-14T10:28:50","guid":{"rendered":"https:\/\/staging.mortgagefinder.ae\/faq\/?p=207"},"modified":"2019-04-14T14:28:50","modified_gmt":"2019-04-14T10:28:50","slug":"what-is-the-difference-between-an-islamic-and-conventional-mortgage","status":"publish","type":"post","link":"https:\/\/www.mortgagefinder.ae\/faq\/what-is-the-difference-between-an-islamic-and-conventional-mortgage\/","title":{"rendered":"What is the difference between an Islamic and conventional mortgage?"},"content":{"rendered":"

A conventional mortgage is where your loan repayments will include paying a rate of interest to the bank, this is their profit for lending you the funds.<\/p>\n

An Islamic mortgage differs from a conventional mortgage because under Shariah Law it is forbidden to charge interest on a loan, so in this case banks will buy the property on your behalf and rent or lease it back to you for a profit.<\/p>\n

You can read more about the difference between conventional and Islamic mortgages in our blog here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

A conventional mortgage is where your loan repayments will include paying a rate of interest to the bank, this is their profit for lending you the funds. An Islamic mortgage differs from a conventional mortgage because under Shariah Law it is forbidden to charge interest on a loan, so in this case banks will buy […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[50],"tags":[],"yoast_head":"\nWhat is the difference between an Islamic and conventional mortgage? | Mortgage Finder - FAQ<\/title>\n<meta name=\"description\" content=\"Both Islamic and conventional finance is available in the UAE. 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