Purchasing or refinancing your home with StrideUp doesn't involve a traditional mortgage with interest charges. Instead, we provide a Shariah-compliant Home Purchase Plan as an alternative.
Differences between a conventional mortgage and StrideUp:
Instead of lending money, we co-purchase the property with you.
We rent our portion of the property to you, and each month you buy more of our share, increasing your ownership.
Where StrideUp aligns with traditional mortgage industry:
We are authorised and regulated by the Financial Conduct Authority (FCA).
You have the freedom to pick any property on the open market that meets our criteria.
You start with a deposit and continue with monthly payments until you fully own the home.
We allow overpayments so that you can fully own your home sooner.
Failure to keep up with your Home Purchase Plan payments may lead to repossession of your home.