"The broker channel is integral to our proposition and we are keen to speak to intermediaries who want to add Shariah-compliant bridging finance to their proposition."
Offa operates in accordance with universal Islamic and ethical financing principles and provides commercial, residential, refurbishment and planning bridging loans, as well as development finance.
Its residential (non owner-occupied) and commercial bridging finance products range from £100,000 to £5m and with a maximum FTV (finance to value) of 75%. Offa provides finance to UK residents, expats and international investors based overseas. It finances individuals, sole traders, partnerships, limited companies, LLPs as well as on and offshore SPVs.
Procuration fees of up to 2% will be payable to introducers. Over the next 12 months, Offa is launching a refurbishment, stretched development, planning and shared risk ethical finance facility - a Shariah-compliant equivalent of a Joint Venture.
Bilal Ahmed, founding partner of Offa, commented: “We are delighted to become a member of the NACFB. We act in accordance with ethical financing principles and pride ourselves on being open and transparent in all our dealings with brokers and customers, supported by high quality customer service.
“The broker channel is integral to our proposition and we are keen to speak to intermediaries who want to add Shariah-compliant bridging finance to their proposition. There are many investors and entrepreneurs in the UK market who would relish the chance to take out short-term finance that is consistent with Islamic principles. Brokers who can accommodate them, will benefit from a strong new revenue channel with considerable long-term potential.
“Over the next 12 months, I will be working closely with the team to launch new products starting with refurbishment and repair to lets.”
