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Al Rayan launches fees-assisted HPPs for refinance customers

Alex Lynn | 16:52 Saturday 15th April 2017

Sharia-compliant Al Rayan Bank has launched a new range of home purchase plans for refinance customers.

Sharia-compliant Al Rayan Bank has launched a new range of home purchase plans for refinance customers.

The fees-assisted range will not include admin fees and will see the bank contributing to valuation costs up to a maximum of £600.

Al Rayan will also pay a cashback of £300 to the customer following the first monthly payment.

The following rental rates are available until 30 June 2019:

• 60% finance to value. A fixed rental rate of 2.59%* and a discounted variable rental rate of 2.79%*
• 70% finance to value. A fixed rental rate of 2.69%* and a discounted variable rental rate of 2.89%*
• 80% finance to value. A fixed rental rate of 2.89%* and a discounted variable rental rate of 3.09%*

The products will revert to the Al Rayan Bank Variable Rental Rate, which for home purchase plans is the Bank of England Base Rate of 3.99%.

*Rental rate fixed or discounted until 30th June 2019

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