Compare Mortgage Rates from StrideUp Against the Market

How StrideUp Works (The "Home Purchase Plan")

If you are used to high-street mortgages, StrideUp works differently. It is a partnership, not a loan.

1. Co-Ownership: You pay a deposit (e.g., 10%), and StrideUp pays the rest (e.g., 90%). You buy the house together.

2. The Payments: You make one monthly payment, but it is split into two parts:

• Rent: You pay rent on the chunk of the house StrideUp still owns.

• Acquisition: You pay an extra amount to buy more of StrideUp's share.

The Goal: Over time (e.g., 30 years), you gradually buy them out until you own 100% of the property.

Ownership: You are the registered owner on the title deeds (often with a restriction), and you keep the profit if the house price goes up.

Finance Products

StrideUp focuses on flexibility where high-street Islamic banks (like Al Rayan or GATEhouse) can sometimes be rigid.

• Residential Home Purchase Plan:

  • High Income Multiples: StrideUp can lend up to 6x your income (or even higher for specific professionals), whereas most high-street banks cap you at 4.5x. This helps buyers in expensive areas like London.

  • Small Deposits: They allow deposits as low as 10% (most Islamic lenders require 20%+).

  • Manual Underwriting: They do not use a "computer says no" credit score. They look at your story, making them good for people with complex income.

• Buy-to-Let (Investment):

  • Top Slicing: If the rental income isn't quite high enough to cover the finance, they allow you to use your personal salary to bridge the gap.

  • Portfolio Landlords: They accept professional investors.

• Refinancing:

  • You can switch your existing conventional mortgage (with interest) to a StrideUp plan if you wish to "purify" your finance and move to a Halal structure.

Pros and Cons of StrideUp

Here is a balanced overview of choosing StrideUp compared to a standard bank.

Pros:

• Shariah Compliant: Certified by Amanah Advisors. If avoiding Riba (interest) is your priority, this is a fully certified solution.

• Generous Affordability: The ability to borrow up to 6x income is a game-changer for first-time buyers who earn a good salary but can't borrow enough from a standard bank to afford a family home.

• Flexible Criteria: They accept contractors, zero-hours contracts, and 100% gifted deposits from family.

• Modern Tech: Unlike some older Islamic banks which rely on paper forms and slow branches, StrideUp is a digital-first lender with a slick online portal.

Cons:

• Cost: Shariah-compliant finance is typically more expensive than a standard high-street mortgage. You will likely pay a higher "rental rate" than the equivalent interest rate at HSBC or Halifax.

• Availability: They currently lend primarily in England. (Check with them for specific postcodes).

• Early Repayment Charges (ERCs): Like a fixed-rate mortgage, if you want to leave StrideUp early (e.g., within the first 2 or 5 years), you will pay a penalty fee.

• Complexity: You need a solicitor who understands Islamic Finance / Home Purchase Plans. This can make the legal process slightly more expensive and slower than a standard mortgage.

Customer Service and Reviews

• Trustpilot: StrideUp has a very high rating (often 4.5 - 4.8 stars).

• Feedback: Customers frequently praise the "human" aspect of the underwriting. People who were rejected by algorithms at big banks often find StrideUp's advisers willing to listen to their explanation.

• Speed: As a fintech, they are generally faster than traditional Islamic banks, often issuing Decisions in Principle (DIPs) within 24 hours.

How to Apply

1. Direct: You can apply directly via their website. Their digital platform is designed to be user-friendly.

2. Through a Broker (recommended): You can use a mortgage broker, but they must be authorised to advise on Home Purchase Plans (not all brokers have this specific qualification).

Get started here to begin a free, no-obligation chat with a mortgage broker who specialises in StrideUp’s products and services, and can offer independent advice about whether they are the best lender for you.