UK Home Ownership Program
Move in now, pay in steps,
and make the home yours, debt-free.
Step-by-Step to Own Your Home in the UK
Step 1
Start saving for your dream home
Show your commitment by depositing a minimum of 15% of the advertised property value in your Waafi Bank account
Step 2
Contact us and let’s make it happen!
With a 15% deposit we will fund the rest, up to £350,000 or 85% of the property value, whichever is lower with up to 20 year lease/ijarah
Step 3
Move in and pay monthly rental until you earn 100% equity
Go ahead. Paint that wall, get a cat. The house is yours to live in as you gradually grow your equity
Pay your rental and gradually own the house
It’s fully Shariah-compliant! You’re not just renting—you’re owning, one step at a time. Live where you love—debt-free, stress-free, the ethical way.
- Based on diminishing musharaka and ijarah Shariah concept
- Start with a minimum of 15% of the total price of the house and grow your equity as part of your monthly rental
- Up to 20 year lease/ijarah
Let’s see if you qualify
Eligibility
You’re eligible to participate in the UK Home Ownership Program if you meet all the following criteria:
- UK resident
- Waafi Bank customer with at least 6 months transactions history
- Meet a minimum of 15% of the advertised property price in your Waafi Bank account
- Intend to live in the house to be purchased
- Meet our affordability criteria
Property Criteria
Love where you live. Own where you want. Whether it's the bustling city, or the seaside town, find your perfect place to call home. Live near the things you love, the people you cherish, and the experiences that matter most to you.
-
Property must be in the UK and owner-occupied
Property is intended for personal use, not as a rental investment -
Standard Build & Freehold
Property must be a freehold property, constructed to standard building codes -
Saleable
Must meet our specified marketability and resale value criteria
Ready to Own Your Dream UK Home?
FAQs
The maximum funding is £350,000 or 85% of the property value, whichever is lower.
Example 1:
Cost of acquiring the house: £200,000
Maximum funding: £170,000
Minimum deposit: £30,000
Example 2:
Cost of acquiring the house: £600,000
Maximum funding: £350,000
Minimum deposit: £250,000
Affordability assessment is an evaluation of your monthly household income vs. expenses. It is to determine whether you can meet the monthly financial commitment towards the purchase of the house. This includes:
- Your Debt-to-Income Ratio
- Disposable Income
- Property Value to Applicant’s Income Ratio
Yes, provided the pay master has a bank account with Waafi Bank, and as long as the property is to be occupied by either the purchaser or the nominated third party.
Fees and charges applied for UK-HOP is detailed below:
| Processing Fee | £2,000 |
