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 Provision Scheme 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?
The property is owned by a special purpose company. This company is owned by you and our other investors. As your share of the company increases so does your ultimate ownership of the property, and your rent is reduced accordingly.
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.