Based on checking the website Stewartmpsltd.co.uk, it primarily offers mortgage and protection solutions. While the site presents a professional facade with testimonials and a clear statement of services, the core offering of interest-based mortgages and conventional insurance policies raises significant ethical concerns from an Islamic perspective. The platform focuses on securing loans with interest (riba), which is explicitly forbidden in Islam, and conventional insurance, which often contains elements of gharar (excessive uncertainty) and maysir (gambling). Therefore, from an ethical standpoint for a Muslim audience, this service is not recommended.
Here’s an overall review summary:
- Service Offered: Mortgage and Protection Solutions (interest-based loans and conventional insurance).
- Ethical Compliance (Islamic): Not Recommended (due to Riba and Gharar).
- Website Professionalism: High (clear layout, testimonials, contact information).
- Transparency: Good (disclaimer about home repossession, cookie policy).
- Accessibility: UK-wide service, accessible contact details.
- Unique Selling Proposition: Access to 12,000+ mortgages from 90+ lenders, personalised service, 25 years of experience.
The website, Stewartmpsltd.co.uk, provides a straightforward, professional presentation of its mortgage and protection services. It highlights over 25 years of experience, access to a vast network of lenders, and a focus on personalised client journeys. Testimonials from satisfied customers are prominently displayed, suggesting a strong client-service orientation. However, the fundamental nature of their offerings—mortgages and insurance—typically involves interest (riba) and elements of uncertainty (gharar), which are against Islamic financial principles. For individuals seeking Sharia-compliant financial solutions, Stewartmpsltd.co.uk would not be suitable, as its services fall outside the permissible framework of Islamic finance. The primary function of facilitating interest-bearing loans and conventional insurance contracts is a non-starter for those adhering to Islamic ethical guidelines.
Here are some alternatives that align with Islamic ethical principles, focusing on property and financial planning without interest or excessive uncertainty:
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- Key Features: Offers Sharia-compliant Home Purchase Plans (HPPs) based on Ijara (lease-to-own) or Diminishing Musharakah (co-ownership). Avoids interest entirely.
- Average Price: Varies based on property value and chosen HPP product.
- Pros: Fully Sharia-compliant, ethical alternative to conventional mortgages, transparent processes.
- Cons: Limited product range compared to conventional lenders, specific eligibility criteria, may require more documentation.
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- Key Features: The oldest and largest Islamic bank in the UK, providing various Sharia-compliant financial products including Home Purchase Plans.
- Average Price: Dependent on the financial product and property.
- Pros: Reputable and established Islamic financial institution, wide range of Sharia-compliant services, excellent customer service.
- Cons: Strict adherence to Sharia principles might mean fewer flexible options than conventional banking, processes can sometimes be longer.
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- Key Features: While not a financial institution, Islamic Relief offers various charitable initiatives and advice on ethical financial practices, promoting zakat and sadaqah.
- Average Price: N/A (charity, not a product).
- Pros: Focuses on community welfare, provides guidance on ethical giving, supports various causes.
- Cons: Not a direct alternative for mortgage or insurance, but rather a guide for ethical financial behaviour.
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Takaful Emarat (While based in UAE, it represents the concept of Takaful)
- Key Features: A Takaful provider offering Sharia-compliant insurance based on mutual cooperation and shared responsibility, avoiding interest and gambling.
- Average Price: Varies by policy type and coverage.
- Pros: Provides ethical, Sharia-compliant insurance alternatives for various needs (life, health, property).
- Cons: UK presence might be limited or require specific brokers, concept might be new to some. (Note: A direct UK Takaful provider like Family Takaful UK would be ideal if available).
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Ethical Investment Funds (e.g., Wahed Invest)
- Key Features: Offers Sharia-compliant investment portfolios, helping individuals grow wealth ethically without involving prohibited industries or interest.
- Average Price: Investment amounts vary, fees are typically a small percentage of assets under management.
- Pros: Allows wealth accumulation in line with Islamic principles, diversified portfolios, accessible digital platform.
- Cons: Investment involves risk, not a direct solution for property purchase but for financial planning.
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- Key Features: An educational platform providing extensive resources, guides, and directories for Sharia-compliant finance in the UK, including information on Islamic mortgages and investments.
- Average Price: N/A (information and guidance).
- Pros: Comprehensive resource for ethical finance in the UK, unbiased information, helps connect users with suitable providers.
- Cons: Not a service provider itself, requires user initiative to apply information.
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Property Investment Courses (e.g., Property Hub)
- Key Features: Focuses on educating individuals about property acquisition and management without necessarily relying on interest-based financing, promoting cash or ethical financing methods.
- Average Price: Varies widely, from free online resources to paid courses and mentorships.
- Pros: Empowers individuals with knowledge to make informed, ethical property decisions, can teach alternative financing strategies.
- Cons: Requires significant self-study and effort, not a direct financing solution, but an educational tool.
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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Stewartmpsltd.co.uk Review & First Look
Upon initial review, Stewartmpsltd.co.uk presents itself as a professional and experienced mortgage and protection solutions provider based in Glasgow, offering services across the UK. The homepage immediately highlights key selling points: “5 STAR REVIEWS,” “ACCESS TO 12,000 MORTGAGES FROM 90+ LENDERS,” and a claim of “25 years” of experience. This immediate transparency regarding their reach and customer satisfaction is commendable. The site’s layout is clean and intuitive, with clear calls to action such as “Call us on 07455025234” and “Contact Us.”
Understanding the Service Proposition
Stewart Mortgage & Protection Solutions aims to guide clients through the intricate process of securing a mortgage, whether they are first-time buyers, home-movers, experienced landlords, or simply looking to remortgage. The language used emphasizes personalised solutions and expertise, suggesting a client-centric approach. The website explicitly states, “No one knows the mortgage market better,” implying a deep level of market knowledge and the ability to secure advantageous deals for clients, even those not openly available on the high street.
Ethical Considerations for Stewartmpsltd.co.uk
While the website appears functionally sound and professionally managed, the core services offered—mortgages and conventional insurance—are built upon principles that are generally not permissible in Islamic finance. Mortgages typically involve interest (riba), which is explicitly forbidden in Islam. Similarly, conventional insurance contracts often contain elements of gharar (excessive uncertainty) and maysir (gambling), which are also prohibited. Therefore, for a Muslim individual seeking Sharia-compliant financial solutions, Stewartmpsltd.co.uk’s offerings would not align with their ethical and religious principles.
Stewartmpsltd.co.uk Pros & Cons
When evaluating Stewartmpsltd.co.uk from a purely functional and commercial standpoint, it demonstrates several strengths, but for an ethically-minded consumer, particularly one adhering to Islamic finance principles, the significant cons overshadow these benefits.
Stewartmpsltd.co.uk Pros (from a general consumer perspective)
- Extensive Market Access: The claim of “access to 12,000 mortgages from 90+ lenders” is a substantial advantage for a conventional borrower. This broad reach suggests they can genuinely compare a wide array of options to find competitive rates and terms.
- Experienced Team: With “25 years” of experience and detailed introductions to Claire and Mhairi, the website projects a strong sense of expertise and reliability. Experience in the mortgage market can be critical for navigating complex applications.
- Personalised Service: The emphasis on “independent, personalised solutions” and direct consultation (“chat to you extensively”) indicates a tailored approach, which can be invaluable for individuals with unique financial situations or those unfamiliar with the mortgage process.
- Positive Customer Testimonials: The presence of multiple 5-star reviews with specific dates of experience (e.g., “September 05, 2023,” “September 29, 2023,” “August 25, 2023”) lends credibility and builds trust, suggesting a positive track record with past clients.
- Convenient Tools: The inclusion of “Mortgage tools, all in one place,” such as “mortgage in principle” and various calculators (“How much can I borrow?” and “What will my repayments be?”), along with “The Home Buying App,” enhances user experience by providing practical resources.
- UK-Wide Service: Despite being based in Glasgow, the ability to work “UK wide” thanks to technology makes their services accessible to a broader client base.
Stewartmpsltd.co.uk Cons (from an ethical/Islamic finance perspective)
- Reliance on Riba (Interest): The fundamental service of providing mortgages inherently involves interest, which is strictly prohibited in Islam. This makes the service unsuitable for Muslims seeking Sharia-compliant financial products.
- Gharar (Uncertainty) in Conventional Insurance: While the website mentions “robust, strong insurance,” conventional insurance policies often contain elements of excessive uncertainty and speculative risk, which are not permissible under Islamic law.
- Lack of Sharia-Compliance: There is no mention or indication on the website that any of their services are structured according to Islamic finance principles. This absence is a critical red flag for Muslim consumers.
- No Halal Alternatives Offered: The platform does not guide users towards Sharia-compliant alternatives for mortgages or insurance, which is a missed opportunity for a broader, ethically diverse clientele.
- Potential for Financial Strain: The “Important information: Your home may be repossessed if you do not keep up repayments on your mortgage” disclaimer, while standard, underscores the inherent risks and potential for financial hardship associated with conventional interest-based borrowing.
In summary, while Stewartmpsltd.co.uk appears to be a competent provider within the conventional financial market, its offerings are fundamentally incompatible with Islamic ethical principles. Fairstone.co.uk Review
Stewartmpsltd.co.uk Alternatives
Given that Stewartmpsltd.co.uk primarily deals with conventional, interest-based mortgages and insurance, which are largely impermissible in Islam, exploring alternatives is crucial for a Muslim audience. The focus here is on Sharia-compliant financial products and services available in the UK, ensuring adherence to Islamic ethical guidelines.
Understanding Islamic Finance Alternatives
Islamic finance operates on principles derived from the Quran and Sunnah, prohibiting interest (riba), excessive uncertainty (gharar), gambling (maysir), and investments in haram (forbidden) industries. Instead, it promotes risk-sharing, asset-backed financing, and ethical dealings.
- Islamic Home Purchase Plans (HPPs): Rather than a loan with interest, HPPs are typically based on structures like Diminishing Musharakah (co-ownership) or Ijara (lease-to-own). In Diminishing Musharakah, the bank and the customer jointly purchase the property. The customer then buys the bank’s shares over time while paying rent for the portion of the property still owned by the bank. In Ijara, the bank purchases the property and leases it to the customer, with ownership transferring at the end of the term.
- Providers: In the UK, prominent providers include Al Rayan Bank and Gatehouse Bank. These institutions have established themselves as reliable sources for Sharia-compliant property finance. For example, Al Rayan Bank reported a 15% increase in gross financing assets in 2022, demonstrating strong growth in the Islamic finance sector.
- Takaful (Islamic Insurance): Instead of conventional insurance, Takaful operates on a mutual cooperation model. Participants contribute to a fund, and claims are paid out from this fund. Any surplus is often shared among participants. This structure avoids elements of uncertainty and gambling found in conventional insurance.
- Availability: While direct Takaful providers in the UK might be less numerous than conventional insurers, the concept is gaining traction. It’s often necessary to seek out specialist brokers or international Takaful companies with a UK presence. Researching providers like Family Takaful UK or global players like Takaful Emarat (though not based in the UK) can provide insight into this model.
- Ethical Investment Platforms: For financial planning and wealth growth, Sharia-compliant investment platforms ensure that investments are made in ethical businesses, avoiding those involved in alcohol, gambling, conventional finance, and other prohibited activities.
- Examples: Wahed Invest is a well-known digital platform offering Sharia-compliant investment portfolios in the UK, catering to various risk appetites. They screen investments to ensure adherence to Islamic principles.
- Financial Advisory Services Specialising in Islamic Finance: Some financial advisors and firms in the UK specialise in Islamic finance, guiding individuals through Sharia-compliant wealth management, property acquisition, and ethical investments.
- Benefit: These advisors can provide bespoke solutions and navigate the complexities of Islamic finance, ensuring compliance and addressing individual needs. Websites like Islamic Finance Guru (IFG) often list such advisors or provide educational content on how to find them.
When seeking alternatives, it’s crucial for consumers to verify the Sharia-compliance of any product or service through independent Sharia supervisory boards or reputable Islamic scholars. This due diligence ensures that the chosen financial solution truly aligns with Islamic ethical guidelines.
How to Cancel Stewartmpsltd.co.uk Service
Since Stewartmpsltd.co.uk is a mortgage and protection solutions provider, it doesn’t offer a subscription model in the traditional sense like a monthly service or software. Instead, the “service” would be the ongoing relationship and any arrangements made through them, such as a mortgage agreement or an insurance policy. Therefore, “cancelling” their service would typically involve ending the relationship or terminating a product arranged through them. Inter-spares.co.uk Review
Ending the Advisory Relationship
If you have engaged Stewartmpsltd.co.uk for advice but have not yet committed to a mortgage or insurance product, ending the relationship is generally straightforward:
- Direct Communication: The most effective method is to contact them directly. The website prominently displays their contact details: “Call us today on 07455025234 or email [email protected]”.
- Written Confirmation: It’s always prudent to follow up any verbal communication with a written email confirming your decision to no longer proceed with their services. This creates a clear record of your intent.
- No Obligation: Until a formal agreement or application has been submitted and approved, there typically isn’t a binding commitment with an advisory service. However, it’s good practice to inform them.
Cancelling a Mortgage or Insurance Product Arranged Through Them
If you have already secured a mortgage or an insurance policy through Stewartmpsltd.co.uk, cancelling these products is a different process entirely, as you would be bound by the terms and conditions of the specific financial product and the lender/insurer.
- Mortgage Cancellation/Early Repayment:
- Contact Your Lender: Mortgages are long-term contracts with specific terms. To “cancel” usually means early repayment, which can incur early repayment charges. You would need to contact the actual mortgage lender (e.g., Nationwide, Halifax, etc.), not Stewartmpsltd.co.uk, to understand the terms and charges.
- Review Your Mortgage Deed: All terms, including early repayment clauses, will be detailed in your mortgage agreement.
- Seek Independent Financial Advice: Before making any decisions about cancelling or repaying a mortgage early, it is highly recommended to seek independent financial advice to understand the implications, costs, and potential impact on your financial situation.
- Insurance Policy Cancellation:
- Contact Your Insurer: Similar to mortgages, insurance policies are contracts with the specific insurance provider. You would need to contact the insurer directly to cancel your policy.
- Review Policy Documents: Your policy documents will outline the cancellation procedure, any notice periods required, and whether you are eligible for a refund of premiums (and if any cancellation fees apply).
- Cooling-Off Period: Many insurance policies come with a cooling-off period (e.g., 14-30 days) during which you can cancel without penalty. Beyond this, cancellation fees may apply.
In summary, while Stewartmpsltd.co.uk facilitates these arrangements, the actual cancellation of a financial product falls under the purview of the respective lender or insurer, subject to their specific terms and conditions. Always communicate clearly and maintain records of your interactions.
Stewartmpsltd.co.uk Pricing
Stewartmpsltd.co.uk is a mortgage and protection advisory service, meaning their “pricing” is typically related to the fees they charge for their brokering and advisory services, rather than a fixed price for a product. Mortgage brokers generally operate on a fee-based model, a commission-based model, or a hybrid of both. The website, however, does not explicitly detail its fee structure on the homepage. This is a common practice for mortgage advisors, as fees can vary based on the complexity of the client’s case, the type of mortgage, and whether they receive commission from lenders.
Typical Mortgage Broker Fee Structures
While Stewartmpsltd.co.uk doesn’t specify its fees on the homepage, here’s how mortgage brokers typically charge: Acheatingandgas.co.uk Review
- Flat Fee: A fixed amount charged for their services, regardless of the mortgage amount or complexity. This could range from £250 to £1,000 or more, depending on the firm and service level.
- Percentage Fee: A fee calculated as a percentage of the mortgage loan amount. This is less common but can be seen, often ranging from 0.5% to 1% of the loan. For example, on a £200,000 mortgage, a 0.5% fee would be £1,000.
- Commission from Lenders: Many brokers receive a commission directly from the mortgage lender when a mortgage is successfully arranged. This commission is usually a percentage of the loan amount, typically between 0.3% and 0.5%. Some brokers rely solely on this commission, meaning their service is “free” to the client.
- Hybrid Model: A combination where the broker charges a reduced fee to the client and also receives a commission from the lender.
Information from the Website
The Stewartmpsltd.co.uk homepage does not mention any explicit fees for their services. This suggests they might primarily operate on a commission-based model from lenders, making their service appear “free” to the client, or their fees are disclosed during the initial consultation once a client’s needs are assessed. It is critical for potential clients to inquire about all fees upfront during the initial contact.
Important Disclosure
It’s standard practice for financial advisors in the UK to be transparent about their fees and how they are remunerated, especially under Financial Conduct Authority (FCA) regulations. Clients should always ask:
- What is your fee structure?
- Do you receive commission from lenders? If so, how much?
- Are there any hidden charges?
Without this information explicitly on the homepage, a prospective client would need to directly contact Stewartmpsltd.co.uk for a clear breakdown of costs associated with their advisory services. This lack of upfront fee transparency on the homepage is a common point of concern for consumers seeking immediate cost understanding, though it doesn’t necessarily indicate impropriety. It simply requires direct inquiry.
FAQ
What is Stewartmpsltd.co.uk?
Stewartmpsltd.co.uk is a UK-based company that provides mortgage and protection solutions, guiding clients through the process of securing various types of mortgages and arranging insurance policies.
Are Stewartmpsltd.co.uk’s services Sharia-compliant?
No, Stewartmpsltd.co.uk’s primary services, which involve conventional mortgages and insurance, are not Sharia-compliant due to their reliance on interest (riba) and elements of excessive uncertainty (gharar), which are prohibited in Islamic finance. Skytraveluk.co.uk Review
What types of mortgages does Stewartmpsltd.co.uk assist with?
Stewartmpsltd.co.uk assists with a wide range of mortgages, including those for first-time buyers, home-movers, experienced landlords (Buy-to-Let), and remortgages.
How much experience does Stewartmpsltd.co.uk claim to have?
The website states that the team at Stewart Mortgage & Protection Solutions has over 25 years of experience in financial services.
Does Stewartmpsltd.co.uk offer access to a wide range of lenders?
Yes, the website claims to have access to over 12,000 mortgages from more than 90 lenders, suggesting a broad market reach.
Where is Stewartmpsltd.co.uk based?
Stewartmpsltd.co.uk is based in Glasgow, Scotland.
Does Stewartmpsltd.co.uk operate only in Glasgow?
No, despite being based in Glasgow, Stewartmpsltd.co.uk states that they work UK-wide thanks to the advancement of technology. Northhampshireservices.co.uk Review
How can I contact Stewartmpsltd.co.uk?
You can contact them by calling 07455025234 or by emailing them at the address provided on their website.
Does Stewartmpsltd.co.uk offer online tools for mortgage calculations?
Yes, the website features various online tools, including a “mortgage in principle” tool, a borrowing calculator, and a repayment calculator.
Is there a home buying app associated with Stewartmpsltd.co.uk?
Yes, Stewartmpsltd.co.uk promotes “The Home Buying App,” which is described as a digital mortgage coach designed to help users save, plan, and track their home buying journey.
Are there testimonials available on the Stewartmpsltd.co.uk website?
Yes, the website prominently displays several positive customer testimonials with specific dates of experience, highlighting excellent service and efficiency.
What is the “Important information” disclaimer on the website?
The website includes a standard financial disclaimer: “Your home may be repossessed if you do not keep up repayments on your mortgage.” Crestselfstorage.co.uk Review
Who are the key team members mentioned on the website?
The website introduces Claire, a Mortgage & Protection Adviser with over 25 years of experience, and Mhairi, who has worked in the industry for more than 15 years and assists with client applications.
What is the role of Mhairi in the Stewartmpsltd.co.uk team?
Mhairi is responsible for monitoring client applications to ensure the process is quick, efficient, and stress-free, working alongside Claire.
Does Stewartmpsltd.co.uk provide advice on home reports and solicitors?
Yes, the website states they can offer advice on home reports, liaise with estate agents, help with offers, and assist in arranging solicitors.
How do I “cancel” Stewartmpsltd.co.uk’s advisory service?
If you have not committed to a product, you can typically end the advisory relationship by directly contacting them via phone or email to inform them you no longer wish to proceed.
How do I cancel a mortgage arranged through Stewartmpsltd.co.uk?
To cancel a mortgage, you would need to contact your specific mortgage lender directly, as you are bound by their terms and conditions, which may include early repayment charges. Stewartmpsltd.co.uk facilitates the arrangement but is not the lender. Curtains-2go.co.uk Review
How do I cancel an insurance policy arranged through Stewartmpsltd.co.uk?
To cancel an insurance policy, you must contact the specific insurance provider directly. Review your policy documents for cancellation procedures, notice periods, and any applicable fees or refund eligibility.
Does Stewartmpsltd.co.uk disclose its fees on the homepage?
The homepage of Stewartmpsltd.co.uk does not explicitly detail their fee structure for advisory services; clients would typically need to inquire directly during an initial consultation.
What are some Sharia-compliant alternatives to conventional mortgages?
Sharia-compliant alternatives include Home Purchase Plans (HPPs) offered by Islamic banks like Al Rayan Bank and Gatehouse Bank, which are based on concepts like Diminishing Musharakah or Ijara.
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