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Murabaha mortgages are much less popular in the UK, and very few Islamic lenders offer them.
The main reason for this is that a very large initial amount of capital is normally required by the borrower, and the lending term is typically no more than 15 years, making it difficult to afford for most borrowers.
Murabaha mortgages work in this way:
The difference between the original purchase price and the higher price at which the property is resold to you provides the Islamic lender with a profit that is compliant with Islamic law.
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