Offa (Islamic) Fintech roles out swift property finance products

Introduction

Offa fintech is unique from its founding, being a platform built on the Islamic faith. It caters mainly to Muslim customers that are on the real estate industry. Whether they are property developers that are looking for funding, or just a family that is looking to buy a property, Offa fintech takes care of the funding and delivers quick solutions.

One interesting thing is that the fintech services are designed to align with the laws of Sharia. Thus, people of that faith who are looking to do business in the real estate industry without compromising their beliefs would find great value in Offa products. Besides that, Offa also offers its fintech services to customers that are not of Islamic upbringing, but are willing to respect the beliefs of that religion. Below is what the founders of Offa has to say about their platform

With a team of dedicated Islamic property finance experts by your side, you're in the best position to confidently achieve your property goals. Whether you're starting small or aiming big, we're here to guide you every step of the way.
As you climb the property ladder, we'll be your trusted partners, assisting you brick by brick in building the future you envision. source

A fast way to access funds and reach goals

Offa not too long ago announced a quick way to apply for funding through its platform. This innovative buy-to-let funding product was designed to remove the bureaucracies that realtors or property buyers face when trying to swiftly fund a property deal. The ultimate goal is to help all customers to instantly access funding for a property business with less time wasted in paperwork and other protocols. Whatever property goals the user wants to reach, Offa wants to provide the funding required within the expected time. Below are some of products that could be financed by Offa

• Light Refurbishment Bridge: This funding product is designed for customers that want to renovate their property and make them more attractive to customers - either tenants or buyers. To upgrade property in the UK would require obtaining some permits from the local government and going through all the paperwork's. But with Offa, there would be no need to visit the local property office.

Customers that choose this product would be able tot quickly install upgrades to their property while Offa covers the paperwork that would have been required. In addition, Offa would also provide the funding needed to do the renovation work. This product covers renovating bother residential property or a commercial one. The funding requirements would not be less than £100,000 but not more than £5,000,000.

The loan repayment of this product covers a period of 1 to 24 months. Cities that can apply for Light Refurbishment Bridge includes England and Wales. For customers seeking to renovate a commercial property, Offa would be willing to release up to 65% of the funding applied for. Then those that are working on a residential property can obtain up to 75% of the amount if their application was successful.

• Residential Bridge: This product is strictly designed for those that are looking to buy a residential property. If they require swift funding of the purchase, then residential bridge is the best option to take up. In order to qualify for this loan, the customer must be a UK resident with permanent residency permits. Such permit could allow them to buy or lease property for up to a period of 70 years.

Successful applicants of this product must be willing to pay a down payment of 2% of the amount being applied for. This money is to be used to process the application. The profit rate that applies to this product is at least 1% per month and up. Applicants that are qualified to receive this loan can get up to £5,000,000. Only applicants from England and Wales would be allowed to apply for this product.

• Land Bridge: If you are in the Uk and wish to purchase land, then this product might suit your needs. Land Bridge is a funding arrangement whereby the customer receives the funding needed to acquire land. One interesting thing about the product is that the customer would not need to visit the Planning office for permit because Offa got that covered. The funding comes with planning permits. This will speed up the process of planning how the land would be used without having to go through complex paperwork.

Buy-to-let funding products

Offa also has buy-to-let services that allows customers to purchase a portion of property co-owned with the platform and pay rent on them, while being free to sublet it. This option is cool to let new customers become landlord over time without having to make a huge down-payment one time.

Under this arrangement, there are various options to consider. However, Offa lets customers secure buy-to-let products and make repayment over a long period of time - up to 40 years. Besides, one thing that makes this service valuable is that all financing activities are guided by a high level of honesty which is what the Islamic laws uphold with high esteem. You can click here to learn more about buy-to-let products and full terms from Offa.

Conclusion

Offa is letting Muslims and non-Muslims finance their property goals with ease. Accessing the funding quickly and reducing delays and complex paperwork is the ultimate goal here. Feel free to learn more about this fintech before getting involved as this article is not financial advice.

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