Islamic Finance
London has emerged as a global centre for Islamic finance. As a result, there has been a huge growth in demand for Islamic finance products by those who wish to use Sharia compliant funding to assist them in their residential property purchases or re-financing. Kingfields’ team of experienced property lawyers can provide the expert advice clients need when they are about to utilise such finance.
Our team has extensive experience in using Ijarah, Murabaha and Commodity Murabaha structures. We have excellent working relationships with the legal advisers to a number of the principal banks offering Islamic finance products in the UK and those relationships facilitate the efficient and timely completion of transactions. We know what the relevant bank will require and so we can be pro-active rather than reactive in ensuring that the bank’s pre- conditions are satisfied promptly and with our clients’ best interests in mind.
Various members of our team have advised clients on a range of Sharia compliant transactions. For example:
Acting for the owners of a central London residential property to assist in their re- financing by way of a Commodity Murabaha to the value of £15 million.
- Acting for the purchasers of a number of apartments in a high profile Knightsbridge development using an Ijarah structure to the value of £25 million.
- Advising various purchasers of apartments in a new residential development in central London using Ijarah structures.
- Acting for various property owners in connection with the repayment of Ijarah structures and completing the transfer of the relevant properties from the lending bank back to the borrower.
- Acting for three companies in the re-financing and cross-collateralisation of three apartments in central London using an Ijarah structure to replace a conventional mortgage facility.
For more information, please contact:
CONTACT US
SUBSCRIBE US
DO YOU NEED ADVICE?
How can we help you? Please call us on +44 (0) 0345 459 0007 to arrange a mutually convenient time to discuss how we can assist you. Alternatively, Email us on mail@kingfields.co.uk* or click here to complete our Free Online Enquiry Form. We will have a chat about your needs, you can ask us any questions you have and we will be happy to have a No Cost or Obligation initial chat with you which we are sure you will find useful.
* Email address is monitored 24/7 and we will respond to you the same day or the next working day.
Harjit is just fantastic, she explained everything to me in a way I understand and I will definitely be back if needed for future projects
Words cannot express my gratitude for all the help you rendered and the great effort you specially put in to ensure that we complete the purchase of the property today. I heard from the seller that you even worked from home during the Easter holidays and goes to office early to get things going. I have been blessed and I am sure great blessings will always go your way to bless you too. Thank you so much.
When we asked, How did we do and what could we do better?
The client replied “I thought that overall it was a great service. Occasionally we didn’t get responses as quickly as we would have liked – but it wasn’t always clear if that was Sharan or actually the sellers conveyancer.”
When we asked, How do we compare with other law firms? (If you have experience of others).
The client replied “WAYYYYYYYY better 🙂”
Mr J and Mrs P
13th May 2021