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.
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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.
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“I would like to take this opportunity to express my sincere gratitude for your invaluable service. Your competence and efficiency has made the sale process virtually seamless. It has been a pleasure dealing with you. Once again, thank you very much for your superlative service“
6th February 2018
better than most other law firms
When we asked, How did we do and what could we do better? Please use this space for your comments (especially if any of your ratings are less than 4) and to suggest things we could do to improve our service.
The client replied “ I’ve been using Kingfields since 2010 for the purchase and sale of my properties in London, as a first time buyer and then an investment buyer, and also referred my sister to them for both her purchases and sales. Each experience was excellent and incredibly supportive, despite the long drawn out processes (no fault of Kingfields), and met the full needs and objectives. My most recent experience in particular, the sale of my apartment in Fulham, was a frustrating one due to the buyer, but Fozia was fantastic throughout.”
When we asked, How do we compare with other law firms? (If you have experience of others)?
The client replied “ I have used Kingfields for the purchase and sale of two properties, and recommended my sister to do the same. Again, with the purchase and sale of two properties. The service provided on each occasion has been excellent and extremely supportive throughout complicated scenarios. Only piece of constructive advice I’d suggest is making sure clients know when their point of contact is going to be out of the office and who will be able to deputise on their behalf. With property purchases/sales, the time frames can often be crucial and it can cause a bit of panic on the client side if we don’t know when someone might be OOO. It was always resolved and sorted, but would avoid chasing your team and you receiving those messages.”
Ms L
March 2023