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Is mortgage halal or haram?

Answered as per Hanafi Fiqh by Muftisays.com
What is the ruling regarding morgage? Some say it is haraam and some say it is halaal. I know that there are other Islamic morgages but they are too expensive. What do I do?

Answer
To obtain mortgage from a conventional bank is Haraam as it involves interest dealings. However, to obtain a Halaal mortgage from Kuwait bank or HSBC is permissible as they have been set up under Mufti Taqi Uthmaani and other eminent scholars where the principles of the deal are not against the basics of Shari’ah. To pay a little more to save ones self from Haraam is worth it in the Aakhirah. May Alla Ta’ala help you in your situation.

Answer Approved by Shaikhul Hadeeth Mufti Farooq

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Mufti Yaseen Shaikh

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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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