I know mortgage is haraam but if someone has fixed there mortgage for a number of years so a fixed same amount is going out every month is it still haraam? as I have heard if the interest rate is fixed then its OK?
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Home » Hanafi Fiqh » Muftisays.com » Is a fixed-rate mortgage still haram if the interest rate is fixed for several years?
I know mortgage is haraam but if someone has fixed there mortgage for a number of years so a fixed same amount is going out every month is it still haraam? as I have heard if the interest rate is fixed then its OK?
Answer | |
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This answer was collected from MuftiSays.com, based in London (UK). It is one of the fruits of Darul Uloom London. Many ‘ulama are involved in answering the Q&A on the site, including: Shaikul Hadeeth Mufti Umar Farooq Sahib, Mufti Saifur Rahman Sahib, Mufti Abdullah Patel Sahib, Maulana Qamruz Zaman Sahib, Mufti Abu Bakr Karolia Sahib.
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