How Much can You Borrow On An Islamic/ Halal Mortgage?

Wondering how much you can borrow on an Islamic mortgage? Whether it’s your first home or your next home, it’s a natural question before you start contacting providers. We’ve done the hard work and spoken to industry contacts to get the figures for you.

Here’s the list of the main lenders and how much you can borrow with them. We’ll keep this updated regularly.

How much can you borrow with Al Rayan?

According to our industry contacts, Al Rayan typically give a multiple of 4.99 for a single applicant and 4.5 for joint applicants.

How much can you borrow with Gatehouse Bank?

Gatehouse typically operate on a multiple of 4.5 for both single and joint applications.

What does this mean for you?

You can calculate your expected loan as follows:

Single Applications

1. Take your annual salary
2. Work out your monthly commitments. Then multiply by 12.
3. Subtract your annual salary from your annual commitments.
4. Multiply that figure by 4.5 if you’re going with Gatehouse Bank or by 4.99 if you’re going with Al Rayan.

Joint Applications

1. Take your annual salary
2. Work out your monthly commitments. Then multiply by 12 to work out your annual commitments.
3. Subtract your annual salary from your annual commitments.
4. Multiply by 4.5 (this works for both Gatehouse Bank and Al Rayan).

Compare Islamic Mortgages

If you are in the market for an Islamic mortgage, you should check out our Islamic Mortgage Comparison tool.