Home Refinance-i
An Islamic financing facility primarily offered to re-mortgage your existing home loan with financial institution or the unencumbered property. Best way to lower your house financing monthly instalment, and capitalising on the appreciation value of your house obtaining additional financing for personal consumption with offered instalment period up to 35 years.
The underlying Shariah concept is Tawarruq (via a Commodity Murabahah transaction), which financing calculated on a fixed rate basis and payment of the selling price shall be made by way of monthly instalment of the selling price on the agreed terms.