Hejaz’s variable rates allow extra repayments. This sounds like what conventional finance is offering. Is this Sharia Compliant.

Islamic home finance operates differently from conventional mortgages, even when there are similarities in flexibility. At Hejaz, our home finance product is based on an Ijara (lease-to-own) structure, which means we purchase the property and lease it to you.

Making extra repayments is part of our agreement, and you may do so accordingly. This will allow you to buy back more equity in the property and ultimately reduce your Ijara payments overall. Unlike conventional loans, this is not based on interest (riba) but rather on a structured rent arrangement that remains fully Sharia-compliant.