Islamic home loans and other costsMarch 31, 2014 at 4:51 pm
When clients are looking for islamic home loans they need to feel confident they will be able to cover all the costs that home ownership can throw their way. More often than not, the money that you need to pay for islamic mortgage loans and the cash that pays for the closing costs are two separate things that need to be handled apart. Here’s a few of these closing costs that you’ll need to plan for.
- lawyer’s fees. Not the most popular cost associated with getting the keys to your new home, but there’s no way around these. Transferring the title is something that needs to be done properly and that’s where the lawyer comes in.
- Land Transfer Tax. Another one of those costs that seems to take a dent out of your wallet but one you cant get around.
People who purchase property with islamic home loans need to be aware there are other aspects of the financing that need to be looked after.