Mortgage
Question
I had three questions regarding interest:
1. Is a mortgage (on interest) permissible in Islam to purchase a family home?
2. If my parents are pressuring me into purchasing a family home through mortgage rather than renting, am I under obligation to listen to them?
3. If I make a total of the amount of interest my father pays on a regular basis with the intention of persuading him to reduce his loans, is this permissible, and would this be considered “recording interest” which is forbidden in hadith?
Answer
1. No.
2. No.
3. If it is to show him the loss that he is incurring then it is not wrong.
And Allah Ta'ala (الله تعالى) knows best.
- Answered by
- Mufti Ebrahim Salejee (Isipingo Beach)
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