Islamic Bank of Britain launches rent only BTL purchase plan

The Islamic Bank of Britain (IBB) launches a rent only plan, that means a variable rental rate product which is available to landlords of any faith with a deposit of 35 per cent and at a rental rate of 5.49 per cent. The plan offers financing between £30,000 and £500,000 on a minimum property value of £90,000. According to IBB head of sales and services Imran Pasha, there is a growing demand from landlords for Sharia compliant property finance.