Twenty7tec partners with Nomo for Sharia-compliant product sourcing

Published on

Twenty7tec has revealed that Nomo, the digital Sharia bank, has been added to its SOURCE module.

The partnership provides brokers and advisers with access to Nomo’s range of Sharia-compliant property finance products.

Nomo is a UK-based, Sharia-compliant digital bank designed for people with “international lifestyles”. It offers residential and buy-to-let finance products to help customers buy or refinance a home in the UK.

Its products are available to residents in Kuwait, the UAE Kingdom of Saudi Arabia, Qatar, Bahrain and soon the UK.

Nicole Smith (pictured), lender national account manager at Twenty7tec, said: “We are pleased with the opportunity to work with Nomo and to assist with their presence in the Intermediary space. Digital banking is more prevalent than ever in this market, and to support the growth of this in the Sharia-compliant banking world is something we are excited to be a part of.

“Residential and buy-to-let purchase products will be available to SOURCE via our Twenty7tec Velocity platform. In addition, Nomo’s lending criteria will be available to search alongside their products, providing certainty to users earlier in the research process.”

Zeenat Shaffi, senior business development manager – Nomo, added: “We are excited to be part of the lender panel for Twenty7tec, especially as they share our vision for simplifying, streamlining and digitalising financial solutions. This is an important development for us and will help brokers save time, speeding up the application process for their clients. Crucially, it will enable even more customers to access the Sharia-compliant solutions they need to purchase a home.”

Latest POLL

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

Seven out of 10 homebuyers likely to miss stamp duty deadline

Seven out of 10 (71%) homebuyers with accepted offers expect to miss the 31st...

First-time buyer mortgage sales declined in London over the past decade

First-time buyer mortgage sales in London declined significantly between 2013 and 2023, as increasing...

UTB appoints BDM for the north and Scotland

Fran Arnold has joined the sales team at United Trust Bank Mortgages as business...

International demand for UK property investment ‘more diverse than expected’

The UK property market is attracting investment from a much broader range of international...

Other news

Seven out of 10 homebuyers likely to miss stamp duty deadline

Seven out of 10 (71%) homebuyers with accepted offers expect to miss the 31st...

First-time buyer mortgage sales declined in London over the past decade

First-time buyer mortgage sales in London declined significantly between 2013 and 2023, as increasing...

UTB appoints BDM for the north and Scotland

Fran Arnold has joined the sales team at United Trust Bank Mortgages as business...