I hope that you are doing well. I was wondering whether you can have a look at the link below about Islamic mortgage from ICFAL, Sydney, Australia, and let me know whether it is halal or not. Thanks.
http://www.icfal.com.au/images/how%20icfal%20ser%20property%20finance%20works_march%2012.pdf
In the Name of Allah, the Most Gracious, the Most Merciful.
As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.
In order for us to comment on the Shari’ah Compliancy of the scheme in reference, we require the actual contract.
If you have a copy of the contract for the scheme in reference, you may forward it to: admin@daruliftaa.net.
And Allah Ta’āla Knows Best
Muhammad Haris Siddiqui
Student Darul Iftaa
Melbourne, Australia
Checked and Approved by,
Mufti Ebrahim Desai.