July 10 2024 Offa , the UK’s first Sharia-compliant bridge finance fintech, has today launched an innovative new buy-to-let finance (BTL) service – with fast funding decisions delivered via a modern paperless process – aiming to disrupt and transform the traditionally old-fashioned and cumbersome world of Islamic finance. Powered by the latest software, Offa’s BTL service meets the needs of both Muslim and non-Muslim property investors with its flexible property finance solutions and end-to-end digital processes, making it fast and easy to apply and get a quick decision. Sagheer Malik, Offa’s Chief Commercial Officer and MD of Retail Finance, said: “Offa is all about a high-quality modern service and speed is crucial in real estate.
With the launch of our ultra-quick buy-to-let service, combined with our teams’ decades of industry experience, we are bringing Islamic finance into the 21st century, leaving behind the onerous paperwork and cumbersome systems that many customers have typically suffered in the past. “Our streamlined digital application process – which is unparalleled in the Islamic finance market – means clients can potentially get a fair decision within minutes, depending on credit rating and risk criteria.” These Islamic BTL products are available to new and seasoned landlords who are British residents or UK expats.
Instead of using interest, Offa’s BTL product involves the Islamic finance principles of co-ownership-with-leasing. Customer.