Seems holy sensible.
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I’ve read about this on some landlord forums. Didn’t know it was a thing.
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I had a Muslim colleague explaining this to me a few years ago. He was going against his parents by buying a house the traditional UK way. To appease them he got a 10 year fix mortgage. Given that it was 2021 - I’m just annoyed he’s locked in the interest rate. The rest was all just a bit weird for me to fully understand.
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There was a bit on the Price of Football podcast recntly about this, in the context of increasing ownership of clubs by Muslims. I think it was Newcastle where they are owned by several entities, with the largest being the Saudi PIF. As a result they don’t pay interest on owners loans from PIF, but do on the loans from other owners. Must make for some interesting accounting!
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