8 in 10 British Muslims face ‘financial faith penalty’ when seeking home finance, survey finds

LONDON: Eight in 10 British Muslims say their home finance choices are restricted because of their faith, according to a new national survey that highlighted what researchers describe as a growing “financial faith penalty” in the UK housing market. The report, published by Islamic home finance fintech firm Offa, found that 80 percent of Muslim respondents believe their religious beliefs limit their access to suitable home finance, while those who do use Islamic products often face slower decisions, heavier paperwork and poorer customer experiences than in the conventional mortgage market.

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