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Products - Self Certification


Self Certification Product

Please find below details of our current product range offered in conjunction with The Governor and Company of Bank of Ireland

For applicants who find it difficult to prove income or receive income from various sources:

Minimum age 21
Minimum term 8 years
Maximum term up to retirement age (normally 65)

We understand that some of our clients may have difficulties in proving their income from various sources. alburaq self-certification allows you to certify your own income.

For examples please click here.

Self Certification - up to 75%


Product Code VS017 (purchase) or VS018 (refinance)

Rent is calculated 6 monthly, on the basis of 6 MONTH LIBOR (on the 1st September and 1st March) + a fixed margin of 1.45% (profit margin is guaranteed for the entire term)

**Current pricing is 6 Month LIBOR (5.72%) + 1.45% = 7.17%
Arrangement Fee £399

Please note that with all products, you can pay the outstanding balance at any time without penalty.

Our rent reviews are on the 1st September and 1st March - you can make additional lump sum payments in the month prior to each rent review, there is no minimum amount and there is no charge for doing so.

** Please note that your monthly payments can go up OR down on the 1st September and 1st March subject to the LIBOR rate at that time and the profit margin

*LIBOR - means the London Inter-bank Offered Rate, and is used as a benchmark for the pricing of rent.   LIBOR rates are set daily and can be easily obtained in financial newspapers or on the internet. Our Shariah Supervisory Committee have permitted the use of LIBOR to calculate rent, provided that it is a benchmark that is well known or easily available so that no dispute can arise when calculating rent.

Rates are correct as of 3rd July 2008

Any offer of finance will be subject to status and satisfactory valuation report. Terms and conditions of the above products maybe subject to change or maybe withdrawn at anytime.

YOUR HOME IS AT RISK IF YOU DO NOT KEEP UP MONTHLY PAYMENTS DUE UNDER YOUR LEGAL AGREEMENTS WITH US