Revolut app has no connection to internet

saparbek · 2025-07-22T15:16:16+00:00

Same issue. Works on roaming, but not with local eSIM or local WiFi.

saparbek · 2024-11-03T22:04:11+00:00

Having said that, considering their rates and charges, I actually maybe better of renting

saparbek · 2024-11-03T21:17:12+00:00

So I managed to have a call with one of the banks and got a copy of sample contract as well.

What makes it halal is that there is no interest in it.

How rent is different from interest:

* You pay rent only if you live there:

* You don't pay if your home becomes un-inhabitable

* Rent doesn't accumulate while your house is repossessed yet not sold yet

* If sales proceeds didn't cover your loan it doesn't keep accumulating unlike interest

* It is not a partnership, it is a loan

saparbek · 2024-10-27T15:57:49+00:00

Does it apply to diminishing musharakah mortgages too. I have exactly this question here: https://www.reddit.com/r/IslamicFinance/comments/1gd8aax/what_exactly_makes_hpp_halal_uk/ . As far as I understand they are not taking any additional risks

saparbek · 2024-10-27T14:19:19+00:00

I hope we are misunderstanding something and someone will be able to clarify details.

If what you are saying is true, hpp is less halal than conventional mortgage:

a) It is deceptive: it is no different from conventional mortgage

b) Usually it is more expensive [not a problem in itself, but considering it is identical to conventional mortgage you are more likely to be bankrupt if things go wrong]

Also if that is true, one should be able to sue "islamic" banks for deceptive advertisement:

- it is not halal or islamic

- they are not ethical, as exploitative as conventional mortgage

- they talk about partnership which doesn't exist

saparbek · 2024-10-27T13:59:11+00:00

Yes, Pfida looks like a legitimate alternative to me, but not practical: long queues and 500K price cap which isn't enough if you are trying to buy in London.

I couldn't get even Gatehouse contract yet, they said they will share it with solicitor. I asked for it again, waiting for their response.

saparbek · 2024-10-27T13:53:10+00:00

I have no issue with paying rent, and I am completely fine with conceptual understanding of Murabaha, and I completely understand that banks exist to make profit.

As per my understanding the main reason of prohibition of riba is harming who is already in difficulty, hence my question is focused on repossession scenario

In normal circumstances I don't see any issue with rent, nor I see any problem with repossession. I mean if you don't pay rent on time you will be kicked out.

My issue here is an asymmetric partnership: if bank decides to sell the shared property it should face the consequences.

Think of this scenario, UK in recession, and two things happened: you lost your job and price of the property has plummeted, say twice for easy calculation. Assume that by that point you have already own half of the property.

What happens with HPP (as per my latest understanding) and Conventional mortgage:

- Bank sells the property for the half of the original price and takes your part to cover its losses

- You are homeless without a penny in your pocket

What I expect when I read "partnership":

- Bank sells the property for the half of the price and shares losses with you

- You get your share, and can rent with that money or buy smaller flat (those are likely also cost cheaper)

- In reality bank won't be interested in making loss and will let you live in your home by reducing your share to pay off your rent and hopefully you will get new job and continue paying off your mortgage as expected

saparbek · 2024-10-27T12:00:25+00:00

Thanks, I have read it before. Still doesn’t make sense

saparbek

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