Strideup: A Halal Home Purchasing Alternative? | IFG Reviews

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We review alternative home purchasing company, StrideUp. In this review, We explain how it works, and compare it to the other sharia-compliant home-purchasing products currently on the market.
Disclaimer: This is not an ad, nor did StrideUp have any part or say in the production of this video. All views are from our own independent analysis.
Check out StrideUp here: strideup.co/?u...
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TIMESTAMPS
00:00 - Introduction
00:59 - Contents
01:49 - IFG Wealth
02:39 - StrideUp Model: How it works
08:29 - Some quibbles
09:17 - Sharia-compliance
10:07 - Comparison to what's on the market
13:54 - When does it make sense
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28 июн 2024

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Комментарии : 85

@madysarr8845 2 года назад

Thank you so much for taking time to explain in very simple terms . The Ummah is blessed to have you Ibrahim. Great work

@mahbubalislam2475 Год назад

How funny ! Why is he stretching so much and trying to call this halal ? In the end one has to pay an extra amount of money than one would if one could buy it on cash. Isn't that interest? No matter what happens, one is paying more than the actual price of the house. It just seems like a way to make fool out of simple islamic minded people out there.

@saeedibnahsan2227 Год назад

Brother this is not halal. The basic fundamental principle is the risk share: the banks money cannot ever be guaranteed to be returned to them. The bank must be at same risk of loosing its money as the borrower. In all these cases the bank secures its money by having the principle interest registered in the UK land register and if you fail to make repayments the bank always can sell your house and regain its money. In other words the banks share is always secured therefore it doesn't share any risk with borrower. Making it same as a conventional mortgage.

@riazzaman20 2 года назад

Jazakallah khayr for the review, it was helpful how your broke it down. I have been keeping an eye on Stride Up for over a year now and the model is an attractive one I especially like how they allow you to access a high sum of finance than other conventional providers. They also have a full shariah certificate on their website issued by Amanah Advisors which is appreciated. Keep up the great work.

@saeedibnahsan2227 Год назад

@sbgf4674 Год назад

Jazak Allah kheir

@EscapesToEnjoy Год назад

JazakAllah. Can you please recommend islamic finance advisor. Thanks

@abdullahX001 2 года назад

How is it different to Primary Finance?

@SohaibAshraf 2 года назад

Just wondering why none of these platforms are available to purchase homes in Scotland?

@sakhersawan 2 года назад

One of the first customers to StrideUp 5 years ago, me and my friends spotted straight away that they are inherently halal (although they didn't claim or talk about it) the 5 years have been amazing, the whole team has been impressive. I pushed the founders many times to get an Islamic Halal review, really glad and happy that they did! Being reviewed by IFG is a pretty big deal!

@mahbubalislam2475 Год назад

@sakhersawan Год назад

@@mahbubalislam2475 I respectfully disagree; when you look at their contract, it is quite clear that you are buying part and renting part, and the extra amount you are paying is the rent of the remaining part; the contract is well thought out and doesn't look like just changing concepts (the details and the conditions makes it very clear tbh).

@mahbubalislam2475 Год назад

@@sakhersawan 2 TYPES OF RIBA (these so-called Islamic financiers fall under the 2nd category) TYPES OF RIBA There are two main types of interest. The most common form of riba is interest on a bank loan or debt that is over the original loan amount the lender charges. For example, A borrows £100 from his friend, B. A then repays £120 over ten months, with the additional £20 being charged as interest by B for the loan. Any loan from any lender falls into this category. This is known as riba al-nasiyah. The second type of interest is an exchange contract or sale. This occurs where the sale amount includes an additional sum of money that can be constituted as riba- al-fadl as there is an additional fee payable.

@mahbubalislam2475 Год назад

@@sakhersawan I hope Now it's more apparent to you why such finances are not Islamic.

@MumenRider78 Год назад

@Mahbub Al Islam Provided that its not a ribawy item or transaction such as cash for cash (gold for gold etc) as you mentioned then according to the majority of scholars it's permissible to agree a higher price for the item at the offset when delaying payments. Al-Bukhaari (2168) narrated that ‘Aa’ishah (may Allaah be pleased with her) said: Bareerah came to me and said: “I drew up a contract of manumission with my master stating that I would pay nine waqiyaha, one waqiyah each year.” [A waqiyah is a weight of silver etc]. This hadeeth indicates that it is permissible to pay later in installments. Even though the texts state that it is permissible to delay payment, there is no text which states that it is permissible to increase the price in return for that delay. Hence the scholars differed concerning the ruling on this issue. A few scholars said that it is haraam, on the grounds that it is riba. They said: because this is increasing the price in return for the deferment, and this is riba. But the majority of scholars, including the four imams, were of the view that it is permissible. The comments of the scholars of the four madhhabs concerning this include the following: The Hanafi madhhab: “The price may be raised in return for delaying payment,” (Badaa’i’ al-Sanaa’i’, 5/187) The Maaliki madhhab: “For more time some amount may be added to the price.” (Bidaayat al-Mujtahid, 2/108) The Shaafa’i madhhab: “Five in cash is equivalent to six in deferred payment.” (al-Wajeez by al-Ghazaali, 1/85) The Hanbali madhhab: “Delay add something to the price.” (Fataawa Ibn Taymiyah, 29/499). I'm not sure about Al Rayan and gatehouse being halal but you should have a look into the model of primary finance as they differ to traditional mortgaged which is an interest based transaction. Have you looked into the details of the transaction to apply a blanket ruling stating that its haram? What's your background in terms of your Islamic studies and professorial studies to come to this ruling?

@malikftnd5569 2 года назад

Assalamu aleikum. Could you tell your opinion on juicyfields?

@WaleedTawfiq Год назад

How much the interest top up on the house price? Thanks

@bilaltanvir832 5 месяцев назад

I have heard gatehouse allows you to sublet or buy to let, but stride up doesnt? is that true?

@123sumom 5 месяцев назад

Thanks ❤

@sahidul 2 года назад

What about Wayhome?

@waseemahmed6545 2 года назад

Is it available in India?? Any alternative

@tawheedkhurshid-lw7yf Год назад

Can you do a video on crowdtolive please

@sabihzaman4855 8 месяцев назад

How will bank give out the key ? If I am just paying rent ?

@khanhamza5207 Год назад

Is Stride up also set up in Australia?

@burhanaislam1472 11 месяцев назад

Has your opinion changed 1 year on?

@A-ig8bi 3 месяца назад

Speaking to Stride Up in 2024, they say they no longer offer this "equity share / buy back" product anymore and seem to only offer a standard home purchase plan, anyone heard similar?

@afaaro2 Год назад

Hi I have a residential Islamic mortgage can I let it to a tenant?

@DrBee85 Год назад

Thanks for the review, the fixed rental rate is 4% - 5% , and variable rate afterwards is Bank of England rate + 4.24%. Is this halal ? I thought the rental rate should be based on prevailing rental rate.

@mahbubalislam2475 Год назад

@MumenRider78 Год назад

@@mahbubalislam2475 it's treated as an investment, for example if the provider lived in the house instead of you then they'd pay rent on your share because they live in it.

@saeedibnahsan2227 Год назад

@MumenRider78 Год назад

@Saeed Ibn Ahsan There's no bank involved with the ones I mentioned. Please sign up to the Primary Finance Q&A session on the 18th of January. You need to understand the product prior to making your assumptions.

@saeedibnahsan2227 Год назад

@@MumenRider78 What are you talking about? Bank/lender, what ever term you want to call it is fine by me. Why don't you explain how the "lender" in the scenarios you have mentioned secures it's interest and ultimately it's investments in the property by land register deed. In other words the "lenders" you mentioned almost completely nullifies it's risk of loosing its capital. How is this acceptable from a Islamic jurisprudence of lending and borrowing?

@Ehan0178 Год назад

Deposits for Strideup and Gethouse is now at least 20%. So there goes our dream of getting a home with halal mortgage.

@abdulquadriakinsanya1957 Год назад

That's not even the worst thing about Strideup. They currently charge 6.5 to 7.85% as rent per annum. So a house that you would ideally pay £800 for rent, you'd be paying over £1200 as rent, after buying at least 15%of the property. I kinda see it as excessive. May not be illegal but feels like extortion. Also, they don't share in the insurance, or even maintenance of the house. Basically, it's your own house but you are paying excessive rent on it.

@Ehan0178 Год назад

@@abdulquadriakinsanya1957 Yeah we just checked and was surprised to see this. It feels like they intentionally make it hard for Muslims to own property, Allah knows best. May HE makes things easier for us.

@mary.t.74729 8 месяцев назад

Exactly this, they are quoting me monthly payments £800 more than a high street mortgage. Its a rip-off and a way of exploiting muslims. Gatehouse are not as bad but they want 25% deposit

@Ehan0178 8 месяцев назад

@@mary.t.74729 at this rate Muslims are better off renting than actually owning a house. :(

@lirimkelmendi8501 Месяц назад

Is this available in Germany ?

@yameenhamid Месяц назад

After paying 60% of the remaining equity, do I still need to pay rent for the 20% equity of stride up or don:t?

@abdullahpatel147 2 года назад

Assalamu alaykum Sidi Ibrahim. For someone who has bought out their initial home, but wants to upsize, what's the best halal mortgage option? They'd be willing to sell their first home, which could technically form about 60-80% of the price of the new home. For example, they can have £200k ready for a £250k house, so they'll only need £50k from a halal provider. Any idea what the best options are for this scenario?

@Oo786oO 2 года назад

Wa alaykumus-salaam. Some sell back to their halal mortgage provide to release equity, buy a new home, and put the old one on rent.

@gamingmisthios 18 дней назад

what if I dont wanna share the 20% loss or gain? I just wanna buy the whole house

@thetruthiswhatmatters6382 Год назад

@IslamicFinanceGuru. Any interesting companies in Canada?

@tarny11 Год назад

You pay rent to the bank . The portion you buy back from the bank how is that paid .

@rashidsebyala6087 Год назад

Gatehouse has put a stop on home purchase financing as of August 17, 2022. You can as well knock it off the list 🤔

@rashidsebyala6087 Год назад

Thank you for the research and information. This is really great for the umah, somebody has put time into a research like this.

@saeedibnahsan2227 Год назад

@masifkhan. Месяц назад

@@saeedibnahsan2227 thanks brother i have seen all your other comments, very insightful. but i m amazed how this person telling in this video to everyone that it is sharia compliant, when lender has no risk carried. this is playing with Akhria

@samabuyamaan3378 2 года назад

I wish we had something like this in Australia. Even if it costs more it is still better than haram alternatives. However this wouldnt work in Australia as we have a state tax called stamp duty payable by the purchaser on the disposal of the property. So here the Bank would pay the tax (for example $20K on 600k loan) and then you would need to pay it again when the loan is paid out at a higher rate as it is based on the value of the contract. Also, you would also lose the option to save on stamp duty by being owner occupier and then there is the issue of capital gains tax.

@abelievereverrising283 Год назад

I think one recently started up in Australia.

@mahbubalislam2475 Год назад

@abelievereverrising283 Год назад

@@mahbubalislam2475 Do you realise that the supermarket sells you food at a higher price than they bought it for. Is that interest Or profit?

@abelievereverrising283 Год назад

@@mahbubalislam2475 Yes that is true, both ways you pay more. That is because both banks must make money. However it shouldn't be the same (at least in theory). The Islamic Bank should in theory at least have their price pegged on the RPI (inflation rate). Therfore you should never pay more than $200,000. However, with a conventional bank, the money will keep multiplying, and potentially even above $200,000. Also the interest rate is more volatile because it changes along with the state of the economy. So at least in theory Islamic banks should be better. Allah knows best

@mahbubalislam2475 Год назад

@@abelievereverrising283 Your Supermarket food logic doesn't make sense. It got me confused for a while but not I am clear - Read the following - 2 TYPES OF RIBA (these so-called Islamic financiers fall under 2nd category) TYPES OF RIBA There are two main types of interest. The most common form of riba is interest on a bank loan or debt that is over the original loan amount the lender charges. For example, A borrows £100 from his friend, B. A then repays £120 over ten months, with the additional £20 being charged as interest by B for the loan. Any loan from any lender falls into this category. This is known as riba al-nasiyah. The second type of interest is an exchange contract or sale. This occurs where the sale amount includes an additional sum of money that can be constituted as riba- al-fadl as there is an additional fee payable. --- supermarket owner doesn't charge you extra on the price asked but your so-called Islamic financier takes an extra amount on the asking price. This falls into the 2nd category of Riba. Riba al fadl. I hope now it's more clear to you that your so-called Islamic financier is not Islamic at all.

@edvincerimi9200 2 года назад

Is day trading crypto and stocks haram? And if it is why?

@theancientsancients1769 Год назад

It depends on the coin you buy and what's behind it. iGF has a list of halal coins

@mohammedwaseem4355 21 день назад

No, day trading is gambling

@abdirizakmohamud6591 2 года назад

Is indices trading us30 and Nasdaq in CFD trading haraam or halaal HELP HELP GUYS 💯😂

@DevOpsBart Год назад

:) What happens when you are not able to pay your mortgage anymore for some sort of a reason? They will take the house from your right? How is that halal then?

@Zzzzzzzz41 Год назад

Thats the same with renting bro

@mahbubalislam2475 Год назад

@saeedibnahsan2227 Год назад

@paidsurveys6561 Год назад

@@Zzzzzzzz41 not the same you renting not buying .

@SM-bb8jj Год назад

Is this the same stride up company based in London which has the most awful reviews?

@mrpanferno 2 года назад

Is it halal to invest money in start up which are not generation revenue at the moment. i would be interested in Lilium Aviation and Joby Aviation. The reason i ask is that i once heard that you are only allowed to invest in a company which is already generating revenue due to the speculation because no one knows (even joby and lilium probably) if they are going to succeed... I would appreciate every help. Salam.

@mr.tech.riyad.8215 2 года назад

Is it possible to invest in sol coin from Islamic point of view?

@veed_official 2 года назад

Please do make a video about Omegapro company which launched in 2019 and still going on and changed thousands of lives... please do your research about it... it's register in UK... It's not only about networkmarketing it's also involved in forex trading as well.. Lots of muslims invested even I did, It's not like others companies if you invest and until if you don't bring others to invest you don't get paid, nope it's not like that, it's you investing and then the company trading in forex and then they give us daily profits and daily profit is not fixed it's based on daily trading... Please give me a reply so I can understand that you will make a full of informative video on it.