Explore our approach to ethical home financing.
Get ahead with Primary Finance.
Rent or Interest: What's the difference?
Consider the following two examples.
What does it cost?
We give you complete control over your finances
Got questions?
What is the difference between this and an Islamic mortgage?
The key difference is that the Primary Finance Home Purchase Plan is free from the burden of debt as we do not force you to buy our share from us, although you are free to buy it from us if you wish.
Who owns the property?
Primary Finance is the legal owner of the property. However, you choose the property that you want us to purchase and you are free to decorate it and treat is as your own. You can simply rent it from us, or purchase it from us whenever you like.
How often is rent reviewed?
We conduct annual rental reviews. If local property prices in your vicinity have increased your rent will increase; if they have decreased your rent will decrease. The maximum increase or decrease is capped according to the terms in your offer letter.
When calculating your affordability and providing you with an illustration we will make the assumption that rent increases by the maximum amount each year. In this way you can be confident that, as long as you stick to the recommended monthly payment, you will never pay more than the illustration although you may pay less.