Understanding the sensitivities of Islamic mortgages
Islamic mortgages may be regarded as a niche market but they offer opportunities for brokers who work close to large Muslim populations, especially to those who understand the products and the sector.
As with all areas of lending finance for Islamic mortgages suffered in line with the market downturn. A lack of confidence, funding and a reassessment of risk with lower LTV criteria have all contributed to consolidation in what was a growing area of mortgage broking and lending.
Alburaq was a dedicated resource to brokers referring clients to Alburaq’s team in London. Islamic Bank of Britain offers training to ensure a full understanding of the market and there are competitive processing fees for packaged or introduced cases.
The important thing to remember is that this sector is growing through difficult times. Brokers will find this sector interesting and it will provide them with a loyal client base who will be keen to recommend knowledgeable and sensitive advisers to members of their community.