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Is Mortgage permissible in Islam?

Answered as per Hanafi Fiqh by Jamia Binoria

Assalam-o-Alaikum,
I live in United Kingdom, and I think as you know, mortgage is very much common here.I wanted to ask weather it is HARAM or HALAL?Because once I faced an argument over this,With the person calling it HALAL.May I know the reason as well??Hope you will reply soon.

الجواب حامدا و مصلیا

In the name of Allah, the Most Beneficent and the Most Merciful
Let it be known that contract of mortgage is a permissible Shar’i contract which has some conditions as well, to be valid. Now if the questioner could provide details with regard to the contract he entered into in U K, it is possible to denote the Shar’i decree especially on it.

Allah knows best.

This Q&A was indexed from the official english fatwa portal of Jamia Binoria. It is an Islamic educational institute in Karachi, Pakistan.

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