UK's Offa launches paperless buy-to-let finance service
UK-based Shariah-compliant fintech Offa has introduced a new buy-to-let (BTL) finance service to overhaul traditional property finance solutions.
The service offered by the bridge finance fintech is available to anyone - British resident or expatriate, Muslim or non-Muslim – who is keen to purchase a property in England and Wales and is above the age of 21. The property must be valued at between £60,000 and £1 million.
Offa’s BTL product is built on Islamic finance principles of co-ownership-with-leasing. Customers can acquire the property in partnership with Offa and make regular monthly payments to increase their share, over time owning it.
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