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Ahli United Bank (UK) / Kuwait Finance House (UK): A Comprehensive Lender Review

Ahli United Bank (UK) PLC was a dedicated UK bank with a focus on connecting Middle Eastern investors with UK markets. In October 2022, its parent company was acquired by Kuwait Finance House (KFH), a global leader in Islamic banking.

Today, the bank operates in the UK under the Kuwait Finance House (UK) brand. It is not a high-street retail bank like Barclays or HSBC; rather, it is a boutique private bank specialising in Shariah-compliant wealth management and property finance.

About the Lender

The bank's primary focus is on High Net Worth Individuals (HNWIs), particularly those from the Gulf Cooperation Council (GCC) region (Kuwait, Bahrain, etc.), as well as UK residents looking for premium, Shariah-compliant banking services.

Because it is a private bank, it does not offer "off-the-shelf" mortgage products to the general mass market. Its services are bespoke, relationship-led, and fully Shariah-compliant (operating under Islamic finance principles that prohibit interest).

Property Finance Products

The bank offers Home Purchase Plans (HPP) rather than traditional mortgages. These are designed to be ethical and compliant with Shariah law.

• Residential Home Purchase Plans (HPP):

  • Ijara (Lease-based): The bank buys the property and leases it to you. Your monthly payments cover rent and a contribution towards buying the bank's share. Eventually, you own the property outright.

  • Murabaha (Cost-plus): The bank buys the property and sells it to you at a higher price (cost + profit), which you repay in instalments over a fixed term.

• Buy-to-Let (BTL) Finance:

  • Designed for professional investors and landlords.

  • Available to UK residents, Expats, and International clients.

  • Specialises in high-value loans, often for prime Central London property, though they lend across England and Wales.

• Commercial Real Estate Finance: Funding for offices, retail units, industrial properties, and student accommodation, typically with loan sizes between £5m and £45m.

Pros and Cons

Here is a balanced overview of choosing this lender (operating as KFH UK) for your property finance.

Pros:

• Shariah-Compliant: A strictly ethical, interest-free banking model certified by a Shariah Supervisory Board.

• International Focus: They are experts in lending to non-UK residents and expats. If you are paid in a foreign currency (e.g., KWD, SAR, USD) or live in the Middle East, they are far more likely to accept your application than a UK high-street bank.

• Relationship Banking: You are assigned a Relationship Manager who handles your case personally. There are no "computer says no" automated decisions; underwriting is manual and bespoke.

• High Loan Limits: They are comfortable with large loan sizes (often into the millions) for high-value properties.

Cons:

• High Entry Barrier: This is a private bank. They typically require you to be a "High Net Worth" client. This often means a minimum income of £150,000+ or a minimum loan size of £500,000+ (criteria vary but are generally high).

• Not for Standard Borrowers: If you are a standard UK first-time buyer with a 10% deposit looking for a £200k house, this lender is not for you.

• Higher Fees: Private banking and specialist international administration often come with higher arrangement fees than standard high-street mortgages.

Customer Service and Reviews

As a private bank, Kuwait Finance House (UK) does not generate the volume of public reviews seen by mass-market lenders. However, within the Islamic finance and private wealth sectors, they are regarded as a "premium" option.

Clients typically praise the personalised service and the ability to speak to a decision-maker. However, some feedback notes that the onboarding process (due diligence and "Know Your Customer" checks) can be rigorous and time-consuming, especially for international clients.

How to Apply

You cannot apply for finance via an online form or comparison site. Access is strictly through:

1. Direct Enquiry: You can contact their London office to discuss your eligibility for Private Banking.

2. Intermediaries (recommended): They work with a select panel of specialist mortgage brokers. If you are an expat or HNW individual, a broker is often the best route to present your case to their credit committee.

Get started here to begin a free, no-obligation chat with a mortgage broker who specialises in Kuwait Finance House's mortgage products and can help you access them.