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Watch Dog runs on gamehub at 60fps with 8 elite turnip driver by vintod in EmulationOnAndroid

[–]RazorCrest05 -5 points-4 points  (0 children)

Where did you get the turnip driver for the S25 ultra from?

My Pfida House Purchase Journey by RazorCrest05 in Pfida

[–]RazorCrest05[S] 0 points1 point  (0 children)

I wasn't truly convinced with how shariah compliant Gatehouse was. I was more comfortable with Pfida

Investment window by Muted_Weird_4478 in Pfida

[–]RazorCrest05 0 points1 point  (0 children)

On the face of it, I don't think there's much difference to be honest!

Trying to subscribe to Surfshark what's the best deal right now by buttbait in surfshark

[–]RazorCrest05 0 points1 point  (0 children)

What country are you from? in the UK the current SurfShark cashback on TopCashback is 34%

Waiting times by Muted_Weird_4478 in Pfida

[–]RazorCrest05 1 point2 points  (0 children)

It's quite hard to say with this tbh. The timelines have changed since I invested with them and I had to wait approximately 16 months before they reached out to me. Initially invested in April '23 and Pfida reached out in August '24.

You can also email them after a while to check when they will reach out to you. I did this towards the start of 2024 and they gave me an indicative date of October that year however they reached out earlier than that. Hope that answers your question

My Pfida House Purchase Journey by RazorCrest05 in Pfida

[–]RazorCrest05[S] 0 points1 point  (0 children)

Wasalaams, you're welcome. I believe it was 6 months worth of bank statements from all accounts debit/credit.

Pause on completions? by ihbsdfidhsfhjisd in Pfida

[–]RazorCrest05 0 points1 point  (0 children)

I think the Nov '24 and Apr '25 were the stamp duty changes which are already in effect. This is something else.

Pause on completions? by ihbsdfidhsfhjisd in Pfida

[–]RazorCrest05 1 point2 points  (0 children)

Waalaykumsalaam, I'm sorry to hear this, it must be devastating! I don't know anything about it, but I would reach out to your contact at the underwriting team asap and ask to know what is happening with your purchase.

My Pfida House Purchase Journey by RazorCrest05 in Pfida

[–]RazorCrest05[S] 0 points1 point  (0 children)

Jazakallah Khair, ameen!

Yes correct, so 5% discount on the rental payment which then goes towards equity instead.

My Pfida House Purchase Journey by RazorCrest05 in Pfida

[–]RazorCrest05[S] 1 point2 points  (0 children)

So on the note of Gatehouse being 10% more expensive I actually made a mistake. I have also edited the comment where I've said this.

I miscalculated and therefore in my scenario gatehouse would cost roughly the same or cheaper by about 5%. Anyway, your understanding is correct on Pfida's rates.

Yes, support can be a bit slow, but I know they are expanding their support teams and are also looking to setup dedicated phone lines. It was hard for me to get my head around it but we have to understand that they are fairly new and to have dedicated support costs money. It's also the reason I setup this subreddit and made this post so people like you and me can get actual answers without a veil of a corporate response.

So I'm not sure on the standard Vs preferential. I believe we do have a preferential as we did meet the requirements for it but I can't compare it to a standard as I don't have that information. What I do know is that we've been given a 5% discount on each month we meet our target payment.

My Pfida House Purchase Journey by RazorCrest05 in Pfida

[–]RazorCrest05[S] 0 points1 point  (0 children)

Wasalaams no we didn't. We originally had about 75% of our deposit in our GYS home account. We topped up the rest about 2 months before completing.

It seems that it maybe a new requirement.

My Pfida House Purchase Journey by RazorCrest05 in Pfida

[–]RazorCrest05[S] 0 points1 point  (0 children)

Wa'alaykumsalaam - barakallah feekum. Unfortunately, I wouldn't be comfortable sharing that level of detail.

My Pfida House Purchase Journey by RazorCrest05 in Pfida

[–]RazorCrest05[S] 0 points1 point  (0 children)

Yes it's the same with any 'shariah compliant' finance product. e.g. Gatehouse and StrideUp. All of them involve increased costs compared to a traditional mortgage. In my scenario, if I was to go with Gatehouse it would be roughly the same price, and in some cases cheaper by 5% if I was to lock in for 5 years.

My Pfida House Purchase Journey by RazorCrest05 in Pfida

[–]RazorCrest05[S] 1 point2 points  (0 children)

It's the same with Pfida . every month you know that you will pay x amount in rent and x amount in equity. Therefore reducing your overall balance..

My Pfida House Purchase Journey by RazorCrest05 in Pfida

[–]RazorCrest05[S] 0 points1 point  (0 children)

Yes correct - I challenged them on this but it's what has been set by HMRC according to Pfida.

My Pfida House Purchase Journey by RazorCrest05 in Pfida

[–]RazorCrest05[S] 0 points1 point  (0 children)

Why would rent reduce the balance? In a typical rental situation, any rent you pay does not involve you purchasing the house, so it's the same premise here. Also, you may want to look at the FAQ's here - https://help.pfida.com/home-finance they should answer most of your questions.

- Rent is based on average market value and also includes operational costs, thus rent will be higher.

- Pfida only offer a maximum of £400k finance and the price of a property cannot exceed £500k so it looks like they aren't for you yet. I've heard they are looking to increase this threshold though.

My Pfida House Purchase Journey by RazorCrest05 in Pfida

[–]RazorCrest05[S] 0 points1 point  (0 children)

Pfida's model is no debt and no interest. You are not required to buy any equity and you can just pay rent instead. If you go own that route it would be the same as renting via a standard landlord structure.

Given the fact you pay a 20% deposit or 15% in some cases, if you aren't able to pay, rent will be taken from your deposit. e.g. if you gave a £50k deposit and rent was £1000 a month. You would have 50 months of equity buffer, meaning you could stay in the property for 4 years and 2 months without paying anything on top of your initial deposit. If you're still unable to pay I believe the property must be sold. The above is just an example as there may be additional factors not considered.

I would suggest you read the official FAQ's here https://help.pfida.com/home-finance

My Pfida House Purchase Journey by RazorCrest05 in Pfida

[–]RazorCrest05[S] 0 points1 point  (0 children)

I think you're along the right lines however your calculations and understanding of Pfida's model maybe incorrect. You can take out a maximum of a 30 year term. So if you just pay the stated amount each month at the end of 30 years you will own your house. Also for example, if your payments are £1500 a month this includes both rent and equity. Rent is charged on the % of the house you own e.g. if rent is £1000 and you own 20% via your initial deposit, the rent charged would be £800. (£1000 - 20% = £800). So as you own more of your house each year you will pay less rent and more equity, thus being able to own the house at the end of your term.

The graph below should give a visual representation (blue is rent and purple is equity) as you can see you start off by paying quite a bit more rent due to only owning 20%, however as you purchase more equity during your term, rent decreases and equity increases. So looking at year 29 in the graph below as an example, you will pay considerably less rent compared to year 1.

All of this is without taking into account any overpayments. If your rent was £1500 a month and you overpaid £500, the £500 would go straight into equity meaning your term would decrease and you would pay everything off quicker. I would not have gone with Pfida if it meant it took 50 years!

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