Sharia-compliant cross border bank Nomo has lowered its property finance five-year fixed profit rate to 4.99%.
The lender said that the deal, which has fallen by 0.5%, is available to residents in Bahrain, the Kingdom of Saudi Arabia, Kuwait, Qatar and the United Arab Emirates looking to buy property in England and Wales.
The deal can be used for refinance or finance to purchase residential or buy-to-let properties.
The lender recently launched special purpose vehicle (SPV) financing option to support customers in the Gulf Corporation Council (GCC) countries.
Nomo said that according to research from Rightmove, GCC inquiries made up more than a tenth of all international inquiries from 2019 and 2024.
The firm continued that Saudi Arabia, UA) and Qatar made up 86% of GCC-based inquiries in 2024 to August.
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Layla Hamidian, head of property finance sales and servicing, Nomo, said: “As 2025 begins in earnest, we’re thrilled to make this competitive rate available to potential customers. At 4.99% fixed for five years, Nomo is truly leading the way in the property finance market.
“Offering customers well-priced financing, enabling them to access the globally recognised UK property market is why we do what we do; the demand is undoubtedly there. Ahead of April’s stamp duty changes, we expect a flurry of market activity in the first three months of the year.”
