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  3. What makes our Home Finance Halal

Is Late Payment Fee Sharia Compliant?

Late payment fees are charged as an administrative fee to cover the costs of processing and managing the late payment. Our Sharia Advisers have determined that the fee should be limited to the actual costs of processing, with any excess being donated to charity. Should a payment remain overdue for 4 weeks, our mortgage servicing department will take direct action and the matter may be escalated beyond our control.