Your Home is helping hopeful homeowners onto the property ladder without needing a mortgage. A revolutionary product for the market, Your Home converts eligible preowned homes being sold on the open market into gradual ownership homes, giving buyers added flexibility and more choice when it comes to buying a property.
Shortlisted for two Islam Channel Business Awards 2023, Heylo’s Your Home scheme has been Sharia-compliant for four years, awarded by The Islamic Council of Europe. The scheme has seen rapid growth, with Sharia customers making up over 30% of the customer base.
Buyers with Your Home will put down a minimum of 25% deposit of the home’s full value and pay rent on the part they don’t own to Your Home (Heylo). As and when customers can afford to, they can purchase more shares, eventually leading up to 100% homeownership. Rent payable to Heylo will decrease as ownership shares increase.
If the overall market value of the property increases over time, buyers will not only receive 100% of the profit made on the share they own, but 50% of the profits on the share owned by Heylo too.
Your Home customers will also have their rent set capped at 4.89% for the first year, with no interest payable as no mortgage is required.
Rishad, a buyer in Manchester, commented that Your Home is “the best Sharia-compliant housing scheme in the market.
He added, “For anyone looking to own houses without riba (interest), and through a Sharia-compliant scheme, Heylo is by far the best. I have made a fair comparison between Heylo [and other providers]. And based on my analysis, the product offered by Heylo suited my needs the best. Secondly, their customer service is impeccable with easy explanation and a lovely website.”
Another buyer, Souhaila said, “Heylo’s Your Home has redefined home buying for us, making it both accessible and Halal-conscious. Your Home offers a fantastic and ethical approach to purchasing a home through Shared Ownership, ensuring that the process is Halal-compliant. What truly sets them apart is their flexibility, allowing you to choose from existing homes rather than limiting you to new builds.”
Your Home customers come from various backgrounds and circumstances- the expert team has experience helping first-time buyers, existing homeowners, upsizers and downsizers find their dream homes.
Heylo Housing, specifically Your Home, aspires to become the largest, most-respected provider of Sharia-compliant home ownership in England.
Agnieszka Skowronek, Head of Your Home commented, “Your Home is a truly exceptional product, helping more buyers into their dream homes without needing a mortgage or paying high rental prices. The fact that there is no interest payable has made it incredibly popular with Muslim customers – we look forward to helping even more customers with their home ownership plans in the coming years.”
For more information on Your Home, visit the website.
