Mortgageplus.co.uk Review 1 by Partners

Mortgageplus.co.uk Review

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Based on looking at the website, Mortgageplus.co.uk appears to be a UK-based mortgage and insurance broker. However, as an Islamic-focused review, it’s imperative to scrutinise services like mortgages through the lens of Riba (interest), which is strictly prohibited in Islam. Traditional mortgages inherently involve interest, making them impermissible. While the website focuses on securing the ‘best deal’ and ‘saving money’, this is almost certainly within a conventional, interest-based lending framework. The site offers mortgage brokering, protection, and insurance, aiming to simplify the process for customers. It showcases numerous positive testimonials, which is a good sign of customer satisfaction. However, the fundamental issue of interest-based financing remains a significant concern for ethical Islamic consumers.

Here’s an overall review summary:

  • Service Offered: Mortgage and Insurance Brokerage
  • Website Clarity: High, clearly explains services and process.
  • Customer Testimonials: Numerous and positive, indicating good customer service.
  • Contact Information: Readily available (phone, email, WhatsApp, physical address).
  • Regulatory Information: Authorised and regulated by the Financial Conduct Authority (FCA), providing legitimacy.
  • Islamic Compliance: Not compliant due to the inherent nature of interest-based mortgages (Riba).
  • Overall Recommendation for Muslims: Not recommended due to Riba; seek Sharia-compliant alternatives.

The website successfully conveys its purpose and value proposition: simplifying the mortgage process and finding suitable deals for customers, alongside offering insurance protection. They highlight their ability to liaise with lenders and solicitors, making it a hassle-free experience. The focus on customer testimonials, featuring names like Katie Thomas, Susan, Stuart Wheeton, Alan Boakes, Maria, Mohammad Amzad Hussain, and many others, provides a strong social proof element. The explicit mention of being regulated by the Financial Conduct Authority (FCA) under number 305330 is crucial for consumer trust in the UK financial sector. Despite these operational strengths, the core product – conventional mortgages – remains problematic from an Islamic perspective due to its reliance on Riba. It’s essential for Muslims to understand that while the service may be convenient and professional, the underlying financial mechanism is not permissible.

Find detailed reviews on Trustpilot, Reddit, and BBB.org, for software products you can also check Producthunt.

IMPORTANT: We have not personally tested this company’s services. This review is based solely on information provided by the company on their website. For independent, verified user experiences, please refer to trusted sources such as Trustpilot, Reddit, and BBB.org.

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Table of Contents

Best Alternatives for Ethical Islamic Finance in the UK

Since traditional mortgages are built on interest, which is forbidden in Islam, Muslims seeking homeownership or property finance must explore Sharia-compliant alternatives. These options avoid Riba by employing different contractual structures, such as Murabaha, Ijara, or Diminishing Musharaka.

  • Al Rayan Bank Home Purchase Plan

    • Key Features: Offers Home Purchase Plans (HPPs) based on the Diminishing Musharaka (co-ownership) model, where the bank and customer jointly own the property, and the customer gradually buys out the bank’s share. Also offers Buy-to-Let Property Finance.
    • Average Price: Varies based on property value and chosen HPP terms. Customers make regular payments, a portion of which goes towards buying the bank’s share and a portion as rent for the bank’s share.
    • Pros: Fully Sharia-compliant, FCA regulated, established UK Islamic bank, caters specifically to Muslim community needs, transparent fee structure.
    • Cons: Limited product range compared to conventional banks, potentially longer application process, may require a larger deposit.
  • Gatehouse Bank Home Purchase Plan

    • Key Features: Provides Home Purchase Plans for residential and Buy-to-Let properties, also using the Diminishing Musharaka structure. Focuses on ethical and Sharia-compliant finance.
    • Average Price: Similar to Al Rayan Bank, payments are structured to reduce the bank’s ownership share over time.
    • Pros: Sharia-compliant, FCA regulated, strong focus on ethical finance, competitive rates within the Islamic finance sector.
    • Cons: Smaller market presence than conventional banks, product availability might be less flexible for unique scenarios.
  • United National Bank UK (UNB UK) Home Finance

    • Key Features: Offers Sharia-compliant home finance products for UK residents, adhering to Islamic finance principles.
    • Average Price: Rates and terms are competitive within the Islamic finance market, dependent on the customer’s financial profile.
    • Pros: Part of a larger international banking group, Sharia-compliant, regulated.
    • Cons: Information on their specific home finance products might require direct inquiry, as their website is less detailed than dedicated Islamic banks.
  • Wahed Invest

    • Key Features: While not directly a mortgage provider, Wahed Invest offers Sharia-compliant investment portfolios. This can be an alternative for Muslims looking to save and invest ethically towards a property purchase without engaging in interest.
    • Average Price: Investment amounts vary; fees are typically a small percentage of assets under management.
    • Pros: Fully Sharia-compliant investment platform, easy to use, diverse portfolios, FCA regulated, accessible for various investment sizes.
    • Cons: Does not provide direct home financing; customers still need to accumulate funds for a deposit or full purchase.
  • Islamic Finance Council UK (IFC UK)

    • Key Features: Not a product provider, but a knowledge hub and advisory body for Islamic finance in the UK. Can help individuals understand Sharia-compliant finance options and find reputable providers.
    • Price: Free access to information; advisory services may incur fees.
    • Pros: Provides comprehensive information on Islamic finance principles, helps navigate the market, reputable source for guidance.
    • Cons: Does not offer direct financial products.
  • National Zakat Foundation (NZF) Housing Assistance

    • Key Features: While not a mortgage provider, NZF offers housing assistance for eligible Muslims in need, sometimes including grants or interest-free loans to help secure housing. This is based on Zakat principles.
    • Price: Assistance is based on eligibility and need, and is typically interest-free.
    • Pros: Direct support for those in genuine need, aligns with Islamic charitable principles, focuses on alleviating hardship.
    • Cons: Not a commercial mortgage solution; eligibility criteria are strict, and it’s for those facing financial hardship, not general home purchase.
  • Build Up Savings (DIY Approach) (Utilising ethical savings towards a full cash purchase)

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    • Key Features: This involves saving diligently and investing in Sharia-compliant ways (e.g., through Wahed Invest, or Halal savings accounts) to eventually purchase a property outright, avoiding all debt.
    • Average Price: Zero interest payments, only the cost of the property.
    • Pros: Completely free from Riba, offers peace of mind, promotes financial discipline and patience, no debt burden.
    • Cons: Requires significant time and discipline to save a large sum, property markets can rise, making it harder to catch up, not feasible for everyone.

Understanding Mortgageplus.co.uk and Its Implications for Muslims

Based on a thorough review of its website, Mortgageplus.co.uk presents itself as a professional and customer-focused mortgage and insurance broker operating in the United Kingdom. Their homepage is clear, welcoming, and filled with positive customer testimonials, indicating a strong emphasis on client satisfaction and service quality. They clearly outline their role: to find the “best mortgage deal” based on individual needs and to streamline the complex process by liaising with lenders and solicitors. They also offer various insurance products designed to protect against life’s uncertainties, such as death, critical illness, or loss of income.

However, for a Muslim audience, a critical evaluation must extend beyond customer service and regulatory compliance to the fundamental nature of the financial products offered. The term “mortgage” in conventional finance inherently involves interest (Riba), which is unequivocally prohibited in Islam. This prohibition is rooted in numerous Quranic verses and Hadith, making any transaction based on Riba impermissible for Muslims. While Mortgageplus.co.uk aims to secure the “best deal,” these deals, within the conventional banking system, are structured around interest rates, whether fixed or variable.

Mortgageplus.co.uk Review & First Look

Upon initial examination, Mortgageplus.co.uk’s website is well-structured and user-friendly. The site quickly conveys its core service: facilitating mortgage applications and providing insurance. The immediate call to action, “Request a call back,” and the presence of a “Mortgage Calculator” suggest a direct and practical approach to engaging potential clients.

  • Homepage Design and Navigation: The design is clean, with clear sections for “Mortgage Calculator,” “What does a mortgage broker do?”, and prominently displayed customer testimonials. Navigation is intuitive, with essential links like “Mortgages,” “Protection,” “Insurance,” and “Privacy Policy” easily accessible in the footer.
  • Initial Impression of Services: The website positions Mortgage Plus as a reliable intermediary that simplifies the often-daunting mortgage process. They promise to find suitable deals and manage communication with various parties involved, aiming to reduce client stress. This is a highly appealing proposition for anyone navigating the complex property market in the UK.
  • Testimonial Power: The sheer volume and positivity of testimonials are striking. Individuals like Melissa, Katie Thomas, Natalie, Susan, Debbie, Stuart Wheeton, Alan Boakes, Maria, Mohammad Amzad Hussain, and many others, share overwhelmingly positive experiences. These testimonials frequently praise the team’s efficiency, patience, professionalism, and ability to secure “great deals.” This social proof builds considerable trust for a conventional consumer.
  • Regulatory Compliance: The website clearly states that “Mortgage Plus is a trading style of Mortgage Plus (Essex) LLP who is an Appointed Representative of Mortgage Intelligence Ltd which is authorised and regulated by the Financial Conduct Authority under number 305330.” This is a vital piece of information, assuring potential clients that the firm operates within the legal and regulatory framework of the UK financial services industry. The mention of the Financial Ombudsman Service for complaints further reinforces transparency and accountability.

What Does a Mortgage Broker Do? The Riba Question.

A mortgage broker’s role, as described by Mortgageplus.co.uk, is to “find you the best mortgage deal based on your exact needs.” This involves navigating the complex landscape of various lenders and their products, saving the client time and potentially money. They also handle communication and paperwork, streamlining the entire process.

  • Conventional Brokerage Model: In the UK, the vast majority of mortgage products offered by mainstream lenders are interest-based. These products involve a loan from the bank, where the borrower repays the principal amount plus an agreed-upon interest rate over a set period. This structure, regardless of how competitive or “best” the deal might be in conventional terms, falls under the definition of Riba (interest) in Islamic jurisprudence.
  • Islamic Prohibition of Riba: Riba is explicitly forbidden in Islam because it is seen as an exploitative practice that generates wealth from money itself rather than from productive economic activity or genuine risk-sharing. The Quran states, “Allah has permitted trade and forbidden interest” (2:275). This prohibition applies not only to exorbitant interest but to any amount of interest, regardless of how small.
  • The Broker’s Unintended Role in Riba: While a mortgage broker like Mortgageplus.co.uk doesn’t directly charge Riba, their service facilitates transactions that are fundamentally based on Riba. By connecting clients with conventional lenders and helping them secure interest-bearing mortgages, they are, in essence, assisting in a process that is non-compliant with Islamic finance principles. For a Muslim, engaging with such a service, even if professional and efficient, would be problematic as it indirectly supports and facilitates Riba.
  • Ethical Dilemma: For Muslims, the dilemma is clear: do you prioritise convenience and competitive rates within a system that is fundamentally non-compliant, or do you seek out alternative, Sharia-compliant financial solutions? The latter is the only permissible path for a Muslim seeking to adhere to their faith.

Mortgageplus.co.uk Pros & Cons (for the General Public)

For the average UK consumer not bound by Islamic financial principles, Mortgageplus.co.uk offers several advantages, but also some general considerations. Diamondkits.co.uk Review

Pros for the General Public:

  • Convenience and Time-Saving: As highlighted, the broker takes on the burden of searching for deals, comparing options, and managing communication with lenders and solicitors. This saves significant time and effort for the client.
  • Expert Guidance: Mortgage brokers possess in-depth knowledge of the mortgage market, including eligibility criteria, various product types, and current rates. They can offer tailored advice that clients might not find independently.
  • Access to Exclusive Deals: Some brokers have access to mortgage products not available directly to the public. This can potentially lead to better rates or more favourable terms.
  • Streamlined Application Process: Their experience allows them to guide clients through the application process efficiently, reducing errors and potential delays.
  • Personalised Service: The testimonials frequently mention the personal touch, with advisors like Susan, Debbie, and Melissa going the extra mile, including home visits or patient explanations.
  • Protection Services: Beyond mortgages, their offering of insurance products for life, critical illness, and income protection provides a comprehensive financial planning service, ensuring clients are covered for unexpected events.
  • FCA Regulation: Being authorised and regulated by the Financial Conduct Authority (FCA) provides a layer of consumer protection and confidence, ensuring the company operates within established ethical and professional guidelines.

Cons for the General Public:

  • Broker Fees: While some brokers are paid commission by lenders, others charge a direct fee to the client. The website does not explicitly state their fee structure on the homepage, which would require further inquiry.
  • Limited Choice: While brokers aim to find the “best deal,” they may not always cover the entire market. Some brokers have preferred lenders or a limited panel of providers.
  • Potential for Bias: Although regulated, there’s always a theoretical possibility of a broker recommending a product that offers higher commission rather than the absolute best fit for the client, though FCA regulations aim to mitigate this.
  • Dependency: Clients become reliant on the broker’s expertise, which can be a drawback if they prefer to have more direct control or understanding of the entire process themselves.

Mortgageplus.co.uk Alternatives for Muslims

Given the fundamental impermissibility of interest-based mortgages in Islam, a Muslim seeking to own a home in the UK must look exclusively to Sharia-compliant finance providers. These institutions structure their products in ways that avoid Riba, adhering to principles of ethical and permissible transactions.

  • Al Rayan Bank Home Purchase Plan (HPP):

    • Model: Diminishing Musharaka (Co-ownership). The bank and the customer jointly purchase the property. The customer then pays a monthly amount, part of which is rent for the bank’s share and part buys out a portion of the bank’s ownership. Over time, the customer’s ownership increases until they own 100% of the property.
    • Why it’s compliant: It’s based on an equity partnership and a lease agreement, not an interest-bearing loan. There is no lending or borrowing with interest.
    • Pros: Fully Sharia-compliant, pioneer in UK Islamic banking, well-established, regulated by the FCA.
    • Cons: May have stricter eligibility criteria, potentially higher overall costs compared to the lowest conventional interest rates (though this is debated, and the peace of mind of compliance is invaluable), limited branches.
  • Gatehouse Bank Home Purchase Plan:

    • Model: Also primarily uses the Diminishing Musharaka model.
    • Why it’s compliant: Similar to Al Rayan, it’s structured as a co-ownership and lease, avoiding Riba.
    • Pros: Sharia-compliant, focuses on ethical banking, regulated by the FCA, offers personal and commercial property finance.
    • Cons: Smaller institution, less public awareness compared to conventional banks, product range is specific to Islamic finance.
  • United National Bank UK (UNB UK) Home Finance:

    • Model: Offers various Sharia-compliant home finance products, often employing Murabaha or Diminishing Musharaka.
    • Why it’s compliant: Designed to adhere to Islamic principles, avoiding interest.
    • Pros: Part of an international banking group, regulated, aims to provide competitive Sharia-compliant solutions.
    • Cons: Might require more direct engagement to understand their specific product offerings and structures in detail.
  • Saving and Cash Purchase (DIY Approach): Latedeals.co.uk Review

    • Model: Accumulating capital through ethical savings and investments to buy property outright.
    • Why it’s compliant: This is the most straightforward and unequivocally Sharia-compliant method as it involves no debt, no interest, and no complex financial structures.
    • Pros: Complete freedom from Riba, no monthly repayments or financial obligations other than property taxes, peace of mind.
    • Cons: Requires significant financial discipline and patience, may be challenging in rising property markets, not feasible for everyone to save such large sums.
  • Takaful (Islamic Insurance):

    • Model: Instead of conventional insurance, which can contain elements of Riba, Maysir (gambling), and Gharar (excessive uncertainty), Takaful operates on a mutual cooperation principle. Participants contribute to a fund, and if one suffers a loss, others contribute to cover it from the fund. Any surplus is distributed to participants.
    • Why it’s compliant: Based on mutual assistance, donation, and risk-sharing, avoiding prohibited elements.
    • Relevance to Mortgageplus.co.uk: While Mortgageplus.co.uk offers conventional ‘protection’ and ‘insurance’, a Muslim would need to seek out Takaful providers for Sharia-compliant coverage related to their home finance (e.g., family Takaful instead of life insurance).

Muslims are encouraged to consult with reputable Islamic finance scholars or institutions to ensure that any financial product they engage with is truly Sharia-compliant, ensuring that their transactions align with their faith.

How to Find Sharia-Compliant Financial Advice in the UK

For Muslims in the UK, navigating the financial landscape while adhering to Islamic principles can be challenging. While services like Mortgageplus.co.uk are proficient in conventional finance, they do not cater to the specific Sharia requirements. Therefore, finding specialist Sharia-compliant financial advice is crucial.

  • Specialised Islamic Financial Advisors: Seek out financial advisors who are not only regulated by the FCA but also hold qualifications or certifications in Islamic finance. They will understand the nuances of Riba, Gharar, and Maysir, and can guide you towards permissible products.
  • Institutions with Sharia Boards: Financial institutions like Al Rayan Bank and Gatehouse Bank have dedicated Sharia Supervisory Boards. These boards comprise respected Islamic scholars who review and approve all products and services to ensure they meet Islamic legal standards.
  • Online Resources and Directories: Websites dedicated to Islamic finance in the UK often list approved providers and advisors. Organisations like the Islamic Finance Council UK (IFC UK) can be excellent starting points for information and referrals.
  • Community and Masjid Networks: Local Islamic communities and mosques often have resources or can recommend knowledgeable individuals or institutions that provide Sharia-compliant financial guidance.
  • Books and Academic Works: For those who wish to delve deeper, there are numerous academic books and scholarly articles on Islamic finance available in the UK. These resources can help individuals understand the principles and structures of Sharia-compliant financial products.

It is paramount for Muslims to prioritise Sharia compliance over sheer convenience or marginal cost differences when it comes to fundamental financial transactions like home financing. The long-term spiritual and ethical implications of engaging in Riba far outweigh any perceived short-term financial benefits.

FAQ

What is Mortgageplus.co.uk?

Mortgageplus.co.uk is a UK-based mortgage and insurance broker that helps individuals find suitable mortgage deals and insurance protection by liaising with lenders, solicitors, and other involved parties. Senokot.co.uk Review

Is Mortgageplus.co.uk regulated?

Yes, Mortgageplus.co.uk is a trading style of Mortgage Plus (Essex) LLP, which is an Appointed Representative of Mortgage Intelligence Ltd. Mortgage Intelligence Ltd is authorised and regulated by the Financial Conduct Authority (FCA) under number 305330.

What services does Mortgageplus.co.uk offer?

Mortgageplus.co.uk offers mortgage brokering services to help clients find and secure mortgage deals, as well as various insurance products for protection against risks like death, critical illness, and loss of income.

Are the services of Mortgageplus.co.uk Sharia-compliant for Muslims?

No, the services offered by Mortgageplus.co.uk, which involve conventional mortgages, are not Sharia-compliant as they are inherently based on Riba (interest), which is forbidden in Islam.

Why is interest (Riba) forbidden in Islam?

Riba (interest) is forbidden in Islam because it is seen as an unjust and exploitative practice that generates wealth from money itself rather than from productive economic activity or genuine risk-sharing.

What are the alternatives to conventional mortgages for Muslims in the UK?

Muslims in the UK can explore Sharia-compliant alternatives such as Home Purchase Plans (HPPs) offered by Islamic banks like Al Rayan Bank and Gatehouse Bank, which are based on models like Diminishing Musharaka. Eagle-glass.co.uk Review

What is a Home Purchase Plan (HPP) in Islamic finance?

A Home Purchase Plan (HPP) is a Sharia-compliant financing model, often based on Diminishing Musharaka, where the bank and the customer jointly own the property. The customer gradually buys the bank’s share while paying rent for its remaining portion.

Is Takaful a Sharia-compliant alternative to conventional insurance?

Yes, Takaful is a Sharia-compliant alternative to conventional insurance. It operates on principles of mutual cooperation and donation, where participants contribute to a fund to cover each other’s losses, avoiding elements of Riba, Maysir (gambling), and Gharar (excessive uncertainty) found in conventional insurance.

How can I verify if an Islamic finance product is truly Sharia-compliant?

You can verify by checking if the financial institution has a recognised Sharia Supervisory Board (SSB) composed of reputable Islamic scholars who approve and oversee all their products and services. You can also consult Islamic finance councils or scholars.

Does Mortgageplus.co.uk charge a fee for its services?

The website does not explicitly detail their fee structure on the homepage. It is common for mortgage brokers to either charge a direct client fee or receive a commission from lenders, or both. You would need to inquire directly with them regarding their specific fees.

Can I get a free consultation from Mortgageplus.co.uk?

Yes, the website mentions the option to “Arrange a free, no obligation chat with one of our Mortgage & Protection Specialists” to discuss your situation and get a personalised recommendation. 1stcallutilities.co.uk Review

Where is Mortgageplus.co.uk located?

Their registered address is 17 York Road, Rochford SS4 3HG. They also offer in-office appointments in Rochford, alongside video or telephone appointments.

How can I contact Mortgageplus.co.uk?

You can contact them by phone at 01702 209929, via email (though the exact email address is obscured on the homepage due to anti-spam measures), or by chatting with them on WhatsApp.

What kind of customer feedback does Mortgageplus.co.uk receive?

The website displays numerous positive testimonials from satisfied customers, praising the team’s professionalism, efficiency, patience, and ability to secure good deals for mortgages and insurance.

Does Mortgageplus.co.uk help with remortgaging?

Yes, several testimonials mention that customers used Mortgage Plus for remortgaging, indicating that this is one of their services.

Do they offer advice for first-time buyers?

Yes, the website specifically mentions “First time buyer mortgages” as one of the areas they cover and testimonials confirm they assist first-time buyers. Sellsmartforcash.co.uk Review

What information should I provide to Mortgageplus.co.uk when requesting a callback?

When requesting a callback, you would typically provide your name, contact details, and a brief description of your needs (e.g., first-time buyer, remortgage, insurance inquiry) to help them prepare for the discussion.

Does Mortgageplus.co.uk offer online appointment booking?

Yes, the website provides an option to “Book an Appointment” online, allowing you to choose your preferred appointment type (video, telephone, or office), date, and time.

How does Mortgageplus.co.uk ensure customer satisfaction?

Based on their website, they aim to provide a high-quality service, excellent communication, and personalised advice. They also highlight their regulated status and the availability of the Financial Ombudsman Service for complaints.

Is it possible to save for a property outright to avoid Riba?

Yes, saving diligently and investing in Sharia-compliant ways to accumulate sufficient funds for a full cash purchase of a property is the most direct and unequivocally Sharia-compliant method to avoid Riba in homeownership.



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