Salaam,
I have a friend who is willing to sell me a property for a fixed price and we will make an agreement for me to pay the property over time, he is currently paying a mortgage for the property so I want to know if it will be halal for me to purchase. Please see example of how the transaction would work below.
He purchased property for: £350k (which he is currently paying the mortgage for)
He is willing to sell the property to me at a fixed price of £400k (which I will pay over time with no interest)
Numbers above are an example
He has a 5 year fixed rate mortgage on the property at the moment so essentially he will be paying this off while I live there. I want to know if it is permissible for me to enter the transaction as I will not be paying any interest, it is merely purchasing a house for a fixed rate and paying it over time.