I have come across an investment opportunity with Concept Capital Group Ltd and Hammonds, where you invest in a static home that is then let to social housing tenants and you reap the rental returns.
There are some details on Zoopla here:
The following is a summary of the features/benefits:
- Fixed annual yield of £3,999.90 - income paid via local authority
- Secured income opportunity - (planning permission granted by local council)
- Tangible asset, insured for the full term at a value of £30,000 by Allianz
- First rental payment after 60 days
- FCA registered company - visit our profile on the FCA’s register
- Buy back option after 24 months for the original purchase price of £39,999
- Fully managed, hassle free investment - all repairs and maintenance covered by Social Park Housing Ltd
- No stamp duty
- No agency or administration fees
- Helping an individual or a family to find a safe and quality home
I wanted to know whether you had come across this type of investment before and whether it is shari’ah compliant?
I have also received an investment contract from them which I can send if that helps?
Barak Allah feekum