We are not a bank!
We make Islamic Finance easy by negotiating on your behalf and handling your application until settlement.
Islamic Finance Specialists That Work For You, Not The Bank.
Sharia Finance is not a bank, nor do we lend our own money. For this reason, we are different to the Islamic funders currently operating in Australia. We are independent Islamic finance brokers that specialize in Australian Islamic finance products. As a brokerage, we can often provide more choice than direct to bank lending which can allow us to negotiate better rates and find solutions to more complex lending scenarios. Whether you are looking for Islamic finance to purchase a home, build an investment property or to do a multi-property development, Sharia Finance is here to help.
The first stage on your journey to secure Islamic finance is to make a booking with one of our Islamic Finance Specialists. After receiving your booking request, our team will request some basic information about your income/liabilities to provide to our specialists in preparation for your initial meeting. Obtaining this information first ensures that we can give you accurate information about which Islamic funders would best fit your unique needs. The initial meeting is approximately 30 minutes in duration and is great opportunity for you to ask us questions about your borrowing power, lending structures and different Islamic funders in Australia.
Islamic Finance Recommendation
If you wish to proceed forward with an application after your initial meeting, you can instruct us to prepare a formal recommendation. We start by conducting multiple in-house finance assessments that utilizes all the information that provided to us in the initial meeting and cross-references it against the finance criteria of our panel of funders. Once we have short-listed suitable funders, we liaise with them directly to negotiate the rental rate. Once we have obtained back these rates, we will prepare a report which we will present to you. This is called our Statement of Islamic Finance Assistance. This personalized report will detail our preferred funder, their rental rates, their repayments, the finance term and all other relevant information based on your unique situation.
Preparing Finance Application
After providing you with your Statement of Islamic Finance Assistance, our team will request any other supporting documents from you that we require, and we will commence preparing your application to send to the funder. The most common documents required for an application include identification documents, income documents, liability documents and banks statements. We will require all documents from you prior to submitting the application.
Managing Finance Application
After we have submitted your application to your preferred Islamic funder, we will manage the application and liaise with the funder on your behalf. This means that we will be your primary point of contact until the finance facility is approved and funded. Our clients enjoy the simplicity of having one direct contact who knows their application rather than multiple departments within a large bank. During this stage our team arranges valuations, responds to funder questions, liaises with solicitors/conveyancers, updates real estate agents and ensure that your application progresses quickly and smoothly
Finance Application Approved
Once your finance application is approved, you will be issued with a set of Islamic contracts to sign. Our Islamic Finance Specialists review the contracts to make sure that the rental rate and finance amount are correct on the contracts prior to you signing these contracts. These contracts need to be signed in full prior to the funder releasing the money.
Finance Application Settlement
Once your Islamic finance contracts have been signed, we will work with the funder to make sure that the finance is paid in line with either your or your solicitor/conveyancers’ instructions. This process of the funder paying the money is called “settlement”. Post settlement, we will liaise with your funder to confirm that your new accounts have been set up correctly, confirm that all details are in line with the signed contracts and we will notify you about when you can expect to make your first payment to the funder.
Are You Eligible For Islamic Finance?
Looking to buy or refinance? Take our short quiz to see if you are eligible to apply for Islamic finance
A friendly member from our team will contact you to answer your questions about islamic finance