Is taking a home loan (bond) permissible?

“Mufti Ebrahim Desai Sahib does not know anything about William John HV Bond and has not approved it. GIFS is an independent organization and not related to the Darul Iftaa.”

“They both should agree on the value of the house. In the event that the husband is unable to pay off the bond and the bank repossesses and auctions the house, the husband will have to give her the value of his half share of the house.”

“Answer one: Yes, if the agents complete the mortgage bond clause mentioned in the query, they will be considered as the ones who write down the interest transaction as mentioned in the Hadith of Sahih Muslim which you cited.”

“1. There is no zakāh on the amount available to you in terms of an access bond. 2. Zakāh is levied on money which one (1) actually possesses, and (2) has been in one’s actual possession for a full lunar year.”