The Ruling on Buying a House Through a Bank
Machine translationRead the Arabic original
Question:
May Allah reward you, Your Eminence, father. The questioner says: I am looking for a house to buy, and when I found one, I went to one of the banks and explained that to them. They informed me that they have no objection to buying this house with a down payment, with the rest to be paid in installments. Is this transaction valid?
Answer:
No, this means they are paying the value on your behalf and recovering it with an increase. They are lending you the value with an increase. They did not buy the house; they did not buy the house and take possession of it before contracting with you. This is necessary: they must buy the house, take ownership of it, and take possession of it before they sell it to you. Yes.
May Allah reward you, Your Eminence, father. The questioner says: I am looking for a house to buy, and when I found one, I went to one of the banks and explained that to them. They informed me that they have no objection to buying this house with a down payment, with the rest to be paid in installments. Is this transaction valid?
Answer:
No, this means they are paying the value on your behalf and recovering it with an increase. They are lending you the value with an increase. They did not buy the house; they did not buy the house and take possession of it before contracting with you. This is necessary: they must buy the house, take ownership of it, and take possession of it before they sell it to you. Yes.
Source
قناة «العلامة الدكتور صالح الفوزان»، [1262 -2802] حكم شراء منزلٍ عن طريق البنك - الشيخ صالح الفوزان — youtube.com
The Arabic text is a machine transcription of the audio recording.