Islamic Bank of Britain relaunches broker website

5 January 2011 | By Samuel Dale

The bank is expecting a surge in demand for its Home Purchase Plan which allows those consumers to obtain a mortgage without the use of interest. 

The re-launch follows a £20m capital injection from founding shareholder Qatar International Islamic Bank.

The Bank’s intermediary website represents the UK’s only dedicated intermediary Islamic finance website targeted at mortgage brokers and IFAs.

IBB also has an intermediary support programme which provides personal access to regional IBB sales consultants and a dedicated intermediary helpline.

Both offer intermediaries help with the application process, as well as being on hand to explain how IBB’s Home Purchase Plans work. 

The HPP allows customers to purchase a home or refinance. Rental rates start at 3.99% for its fixed rate product and all products carry a low arrangement fee of only £299.

Simon Walker, head of sales at IBB, says the HPP is a strong, competitive, product which stands up to its conventional alternatives. 

He says: “The Bank also offers intermediaries a solid, and unique, platform to develop their Islamic home finance offering. 

“With all the elements in place the Bank is therefore ready to embrace the continued demand from British consumers for Sharia compliant and ethical home finance.

“Intermediaries will play a key role in our activities and we look forward to achieving continued success all round.”

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