Would the StrideUp Home Purchase Plan, which uses a Diminishing Musharakah model with no interest, joint ownership, rent plus equity payments, and gradual full ownership transfer—while requiring home insurance and applying late fees—be considered halal? Late fees are also applied to rent in the UK.

Ustadh AbdulAziz al-Haqqan

This needs full explanation over the phone for me to understand what it is exactly, so Allah knows best.