StrideUp, Offa and Pfida are the three UK halal home finance providers that are not banks, and they suit three different buyers. Offa accepts a 5% deposit and considers up to seven times income, StrideUp needs 10% and runs an FCA-regulated Home Purchase Plan certified by Amanah Advisors, and Pfida needs 20% (15% by exception), sells its share back at the original purchase price with no debt, and has a waiting list its own help centre puts at around 18 months for a 20% deposit. None of the three is covered by the Financial Services Compensation Scheme for your home finance. The comparison below uses only the providers' own criteria pages, tariffs and certificates; the UK home financing hub covers the banks.
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Who the three providers are and how each is regulated
StrideUp is the trading name of StrideUp Homes Limited, registered office at Third Floor, 20 Old Bailey, London, authorised and regulated by the Financial Conduct Authority under reference 785299. Its Home Purchase Plan is a regulated home finance product; its buy-to-let plan is not FCA regulated, which its own footer states. Offa is Offa Money Limited, FCA reference 1000573, based at Dominion Court, 39 Station Road, Solihull, and launched its regulated Home Purchase Plan in 2026 after years as a Sharia-compliant bridging lender. Both firms therefore sit inside the FCA's conduct rules for home purchase plans, and customers of both have access to the Financial Ombudsman Service as users of a regulated firm.
Pfida is structurally different. Pfida Ltd, company 10347817, is an Appointed Representative (FCA reference 1053702) of Leela Regulatory Solutions trading as Leela Partners (FCA reference 845185) for arranging deals in investments. Pfida's own disclaimer says that while the promotion and arranging of investment in its savings accounts is subject to FCA regulation, none of its products is FCA regulated, and that customers therefore do not have the protections of the FCA rules, the Financial Ombudsman Service or the FSCS. Its OwnTogether home product is a co-ownership arrangement, not a regulated Home Purchase Plan. That is a deliberate design choice, and it is the single biggest difference between Pfida and the other two.
What non-bank status means in practice, and what protects you instead
The FSCS protects deposits at authorised banks, which is why savers at Gatehouse or Al Rayan have cover. It does not reimburse a home finance customer for anything, with a bank or without one, because you are the party paying rent and buying shares, not the party owed money. So the question is not whether FSCS covers StrideUp or Offa; it does not for this purpose, and would not with a bank either. The halal mortgage regulation and FSCS guide sets out that distinction in detail.
What protects a Home Purchase Plan customer is the regulated status of the product. With StrideUp and Offa, the FCA's rules on affordability, disclosure, arrears handling and repossession apply, and a complaint can go to the Financial Ombudsman Service. With Pfida you rely on the contract and on Pfida's conduct, which its disclaimer tells you plainly. Pfida's mitigants are economic rather than regulatory: it sells its share back at the price it paid and lets you draw on your equity buffer if you cannot pay rent in a difficult month. No provider offers Pfida's economics inside a regulated wrapper today.
Shariah certification: who signed off each product
StrideUp's site states that its Home Purchase Plan product has been certified as Sharia-compliant by Amanah Advisors, and describes the structure as diminishing musharakah with an ijarah rental component set out in a lease agreement. Offa publishes a Shariah Compliance Certificate for its Home Purchase Plan dated 5 February 2026, signed by Mufti Faraz Adam as Executive Director of Amanah Advisors. The certificate says Amanah advised on the structuring, which is based on diminishing musharakah and ijarah, and reviewed and approved the offer letter, the diminishing musharakah agreement, the lease and the legal charge. It also states that the certification covers the reviewed documentation and processes only and that correct implementation remains the parties' responsibility.
Pfida's site describes its approach as the product all scholars agree is Shariah-compliant, built on buying real property alongside the customer and sharing risk, with no interest, no debt and the share sold back at cost. We could not find a named certifying scholar or a dated certificate on the Pfida pages we fetched, so we do not state one. The two Amanah-certified products share a certifier, which means the StrideUp versus Offa decision is not a Shariah decision; it is a criteria and price decision. Pfida versus either of them is a different structural choice, which is why a buyer who objects to any committed payment plan tends to pick Pfida regardless of cost.
Deposits, minimums and income multiples side by side
The table draws on StrideUp's eligibility page, Offa's Home Purchase Plan criteria guide and Pfida's home finance eligibility and property pages, all read on 26 September 2026. Where a provider does not publish a figure the cell says so rather than guessing.
| Criterion | StrideUp | Offa | Pfida (OwnTogether) |
|---|---|---|---|
| FCA status | Authorised and regulated, FRN 785299; HPP is regulated | Authorised and regulated, FRN 1000573; HPP is regulated | Appointed Representative FRN 1053702; products not FCA regulated |
| Shariah certifier | Amanah Advisors | Amanah Advisors, certificate dated 5 February 2026 | Not named on pages fetched |
| Minimum deposit | 10%; 15% new-build house; 20% new-build flat | 5% | 20% recommended; 15% case by case |
| Income multiple | Not published; four applicants can combine | Up to 7 times; no minimum income | Not published; minimum household income £25,000 |
| Minimum property value | £75,000 | £80,000 | £100,000 (maximum £500,000) |
| Finance range | £50,000 to £1.5 million | £60,000 to £1.5 million (£1 million new build) | £50,000 to £400,000 |
| Geography | England only | England and Wales | UK based; may decline areas with high concentration |
| Rate type | Two or five year fixed via calculator | Two or five year fixed, or discounted variable | Rent set on local market and cost of capital, scaled to equity |
Three cells decide most cases. Offa's 5% deposit and seven times income make it the only route for a low-deposit, high-multiple buyer. StrideUp's £50,000 finance floor and £75,000 property floor make it the most forgiving on cheap property, which matters in northern towns. Pfida's £400,000 finance cap and £500,000 property cap, combined with a 20% deposit, make it a product for established savers buying houses rather than for first-time buyers in London. Pfida also excludes leasehold and share-of-freehold property, flats and high-rise buildings, non-standard construction, auction purchases, and property under 5 or over 80 years old.
Rates and fees as published on 26 September 2026
Offa publishes a full rate card. For UK residents on 26 September 2026: discounted variable at 6.44% (65% finance-to-value) or 6.55% (80%); two-year fixed at 6.59% (65%), 6.65% (80%), 7.35% (90%) and 7.45% (95%); five-year fixed at 6.65% (65%), 6.75% (80%), 7.45% (90%) and 7.55% (95%). The product fee is £499 on the 65% and 80% products and £999 on the 90% and 95% products. Offa's tariff adds a £149 application fee, a £30 funds transfer fee, and an early buyout charge of between 1% and 5% of the outstanding balance during the initial period. Affordability is assessed at pay rate plus 1% where the fixed period is under five years.
StrideUp does not publish a static rate card; its rates calculator returns a two-year or five-year fixed rate for your inputs, so we cannot quote one here. Its tariff dated 1 July 2026 lists a £1,249 product fee on the Home Purchase Plan, payable at offer and addable to the balance if eligible, a valuation fee of £385 plus VAT and disbursements, and StrideUp's own legal fees in addition to your solicitor's. Pfida does not publish a rate because it does not charge one; its rent reflects the size and location of the property, its cost of capital, business costs and the local rental market, scaled down by the share you own. It sells its share back at the price it paid, so there is no acquisition premium.
- Get Offa's figure first, because it is the only one you can read without an application: its rate card is public and its criteria guide states the multiples.
- Run StrideUp's calculator with the same price, deposit and term and compare the two-year and five-year fixed outputs against Offa's 7.35% to 7.55% at 90% to 95%.
- If both decline you on property type or income, check whether you can reach a 20% deposit and whether the house qualifies for Pfida, then open the waiting list dashboard.
- Compare the fixed-period fees honestly: Offa £149 plus £499 or £999, StrideUp £1,249 plus valuation, Pfida none published.
- Only then compare against Gatehouse Bank's 90% and 95% products, because a bank's rate is irrelevant if its 4.49 times multiple declines you.
Pfida's waiting list and why its economics differ
Pfida's help centre explains the waiting list as a function of how much of your downpayment you hold in a Pfida Grow Your Savings Home account: around 24 months with 15% saved, around 18 months with 20% and around 12 months with 30%. Its worked example is a £300,000 funding need with £60,000 (20%) invested, giving eligibility in about 18 months. The full downpayment must sit in the account for at least six months before you can apply, and your dashboard shows a personal eligibility date based on savings history and Community Points. Pfida's own site calls the list very, very long and says waits are shorter than they used to be.
The economics explain the queue. Pfida buys the property alongside you with pooled community savings rather than wholesale funding, so capacity is set by how much the community has saved. In exchange you get something the regulated providers cannot offer: the share is sold back at purchase price however long you take, rent falls as your share grows, and your equity buffer can cover rent in a bad month. A buyer who needs to complete in the next three months cannot use it. A buyer with 20% who is two years from purchase and uncomfortable with any committed payment schedule can, and should read the Pfida home finance guide for the account mechanics.
Speed, process and who can apply
Offa's criteria guide advertises a tech-led, paperless process with potential same-day decisions, a closed panel of conveyancers acting for both sides, and offers that expire after 90 days. It accepts first-time buyers, up to four applicants, UK residents and expats in listed countries including the UAE, Saudi Arabia, Qatar, Malaysia and Singapore, and holders of visa types including Skilled Worker, Health and Care Worker and EU Settlement Scheme statuses, with a 65% cap on Family Visa holders. Its Family Assist product lets family members join the finance plan to boost affordability without taking ownership.
StrideUp requires at least two years of UK residence, or a co-applicant who has it, accepts 100% gifted deposits with a declaration, considers self-employed income from one year of trading, and allows up to four applicants. Pfida requires applicants to be at least 21, to have three months of permanent employment or three years of self-employed history, a minimum household income of £25,000, six months of UK bank statements, no bankruptcy or IVA in five years and no active CCJs. Both StrideUp and Offa can complete on a normal conveyancing timeline; Pfida completes when your eligibility date arrives. The deposits and affordability guide covers how each treats gifted money.
Who should choose what
Choose Offa if your constraint is deposit or income multiple: it is the only one of the three that will finance at 5% and the only one that publishes a seven-times multiple with no minimum income. Expect to pay for it, with 7.45% to 7.55% at 95% and a £999 fee, and plan to refinance or step down the finance-to-value bands when your equity allows. Choose StrideUp if you have 10%, a cheaper property or a non-standard income story, and you want a regulated HPP from a firm that has been doing only this for several years; run its calculator and weigh the £1,249 fee against Offa's. Choose Pfida if you have or can build a 20% deposit, are buying a house rather than a flat, are not in a hurry, and your priority is a structure with no debt and no committed acquisition premium rather than regulatory protection.
If you are a buyer the banks have declined, compare Offa and StrideUp first and only consider Pfida once you have confirmed the property qualifies and you can wait. Use the provider comparison tool to set these three against Gatehouse and Al Rayan on the same screen. Facts checked against strideup.co, offa.co.uk, pfida.com, help.pfida.com on 26 September 2026.
Frequently asked questions
Is StrideUp halal?
StrideUp states that its Home Purchase Plan has been certified as Sharia-compliant by Amanah Advisors, and describes the structure as diminishing musharakah co-ownership with an ijarah rental payment on the share it holds. That is the same certifier and the same structure as Offa's 2026 Home Purchase Plan. Buyers who want to read the certificate wording should ask StrideUp for it, since the site names the certifier but we did not find the document itself.
Can I get a halal mortgage with a 5% deposit?
Yes, from Offa, whose criteria guide states a minimum 5% deposit and up to 95% finance-to-value for UK residents on second-hand property, at 7.45% fixed for two years or 7.55% fixed for five years with a £999 product fee. Gatehouse Bank also finances up to 95% for a main residence. StrideUp's minimum is 10% and Pfida's is 20%, or 15% by exception, so neither offers a 5% route.
Are StrideUp and Offa covered by the FSCS?
Not for home finance, and neither is any bank. The FSCS protects deposits held at authorised banks; it does not compensate the customer of a Home Purchase Plan, who owes rent and acquisition payments rather than being owed money. What protects a StrideUp or Offa customer is that both firms are FCA authorised and the HPP is a regulated product, so FCA conduct rules apply and the Financial Ombudsman Service is available.
How long is the Pfida waiting list?
Pfida's help centre says the wait depends on how much of your downpayment you hold with it: approximately 24 months with 15% saved, 18 months with 20% and 12 months with 30%. The full deposit must be in your Pfida Home account for at least six months before you can apply, and your dashboard shows a personal eligibility date that also reflects Community Points.
What is the difference between Pfida and a Home Purchase Plan?
A Home Purchase Plan from StrideUp or Offa is an FCA-regulated product with a fixed or variable rental rate and a schedule of acquisition payments. Pfida's OwnTogether is an unregulated co-ownership: Pfida buys the home with you, charges rent scaled to the share you do not own, and sells its share back at the price it paid, with no committed repayment schedule and an equity buffer you can draw on. Pfida itself says its products carry no FCA, FOS or FSCS protection.
Compare providers in your state
See side-by-side comparisons of Shariah-compliant products, or let our matcher recommend the best options for your situation.
Which of the three is cheapest?
On published numbers only Offa can be priced: 6.44% to 7.55% depending on deposit and fixed period, plus £149 and £499 or £999 in fees. StrideUp only quotes through its calculator and charges a £1,249 product fee. Pfida charges rent rather than a rate and publishes no figure. For an equal 10% deposit, compare Offa's 90% rates of 7.35% or 7.45% against StrideUp's calculator output, then against Gatehouse's 90% rates of 6.48% and 6.46%.
