Mortgage

Answered according to Hanafi Fiqh by Muftionline.co.za

Q: I had three questions regarding interest:

1. Is a mortgage (on interest) permissible in Islam to purchase a family home?

2. If my parents are pressuring me into purchasing a family home through mortgage rather than renting, am I under obligation to listen to them?

3. If I make a total of the amount of interest my father pays on a regular basis with the intention of persuading him to reduce his loans, is this permissible, and would this be considered “recording interest” which is forbidden in hadith?

Bismillaah

A:

1. No.

2. No.

3. If it is to show him the loss that he is incurring then it is not wrong.

And Allah Ta’ala (الله تعالى) knows best.

 

Answered by:

Mufti Ebrahim Salejee (Isipingo Beach)

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