(+92) 0317 1118263

business

is Mortgage permissible in Islam?

الاستفتاء

Assalam-o-Alaikum,
I live in United Kingdom, and I think as you know, mortgage is very much common here.I wanted to ask weather it is HARAM or HALAL?Because once I faced an argument over this,With the person calling it HALAL.May I know the reason as well??Hope you will reply soon.

الجواب حامدا و مصلیا

In the name of Allah, the Most Beneficent and the Most Merciful
Let it be known that contract of mortgage is a permissible Shar’i contract which has some conditions as well, to be valid. Now if the questioner could provide details with regard to the contract he entered into in U K, it is possible to denote the Shar’i decree especially on it.

Allah knows best.