Refinancing allows property owners to replace their current mortgage with a new one often to secure a lower interest rate, adjust the loan term, or switch to a more suitable mortgage product.

It’s a practical way to reduce monthly payments, save on interest over time, or improve overall loan terms to better match your financial goals.

Islamic home finance is offered by Islamic banks or the Islamic windows of conventional banks, providing an alternative to traditional mortgages. These financing options are structured in a way that avoids charging interest, aligning with Islamic principles that prohibit Riba (usury). The most common structures include Murabaha (cost-plus financing) and Ijara (leasing), both designed to ensure that the financial transactions comply with Sharia law while allowing individuals to purchase houses.

This is one kind of credit that a lender or the bank may offer to a borrower for personal use. To obtain a personal loan, you must fulfil the eligibility standards set forth by the lender.

These loans are granted by exception. If granted, the loan amount can be used for nearly anything, including major purchases or home remodeling. Over a predetermined length of time, you must make consistent payments to repay the loan, which typically includes interest.