Mortgage for a Home
Question:: I am a simple muslim residing in the UK. Alhamdo-lellah until now I did the best of my try to earn halal and avoid interest. Now I feel I should buy a house of my own (my children being growing). There is a prelimenary Islamic modaraba and ijara home purchase introduced by a bank in UK.Unfortunately some of its conditions are difficult to meet by an average earner like me e.g a condition of 20% down payment is a prerequisite, it is difficult to provide that much money. So I cannot avail it. I can afford the conventional mortgage. I realy feel 'krahiyat' for it, but I do not know what to do. Is the conventional mortgage allowed in Islam in any way? or I have to live in a rented house for life.