Buying a house on interest paying loan is haram. But what would you do if there is no islamic loans available?. There are few companies who do provide islamic loan, but they do not meet the criteria. I have talked to many people who have studied on this topic dont consider the products of these companies to be Halal either.
Where I live, Rents are very high and infact equal to the installments of home loan and are increasing. What would you do if not buy a house?
I am little confused on this. There is no option if one wants to buy a house.
In the end you have to decide what you want to do. Whether you want to go ahead and trust that sharia based financing is better then regular mortgage. I know a couple of people who keep arguing that ‘kaan ko seedha pakro ya hath ghuma ke pakro aik hi baat he’ and they have taken the conventional mortgage to buy house.
We are still undecided, have not bought a house yet but would really like to with the family getting bigger and paying so much in taxes, we are still renting and still confused and still without any solution
in situations where something is NOT available or feasible, **Islam teaches us to make a sacrifice rather than indulge in Haraam stuff***. paying a higher rent is a better option than buying the house on mortgage with interest or obtain funds from financial institutions whose assets are NOT Halaal.*
