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Buying a house if the price is 160k Cash the owner gives you for 180k and divides the instalment over 1 yr is this ok .

Answered as per Hanafi Fiqh by Askimam.org

.Is there any condition with which loan could be taken from bank .Could you give the details of mufti taque usmani fatwa in this regards.

Answer

If the final price of the house is specified, for example, 180K payable over one year, then the transaction is correct. It is not permissible to take a loan on interest from the bank.

and Allah Ta’ala Knows Best
Mufti Ebrahim Desai

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This answer was collected from Askimam.org, which is operated under the supervision of Mufti Ebrahim Desai from South Africa.

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