Our Housing Finance Product:
- A true partnership with our members to own property.
- Share in the property’s fixed running costs like council rates, strata and water supply costs.
- Payments are linked to market rental prices and property prices.
- Share in the risk of property value gain or loss.
- 100% member funded.
- 0% interest from the banks.
- We are run for the benefit of our members.
How It Works – click here
ICFAL Investment Portfolio
- Housing finance – Want more information download here
- Vehicle finance – Want more information download here
- Hajj fund
- Qard Hasan (Benevolent) fund
- Children Education fund
Administration of Finance:
- An applicant needs to be a member (hold annually a minimum 5 shares valued at $100 per share; wait for 6 months and can contribute 20% equity of total purchase price of the property) before applying for finance for a nominated property.
- When you need finance for buying vehicle, house, consumer’s durables or other properties, you enter in a Co-ownership or Partnership agreement with ICFA Limited.
- The Co-ownership is determined according to the proportional contribution to the agreed value of the asset.
- You will be the full owner of the asset through options as:
- Pay an agreed monthly installment to the ICFA until 100% of the total agreed value is paid.
- Pay an agreed monthly rental and installment of the purchased cost of the asset under the Shared Equity Rental Scheme.
Administration of Shares:
You buy shares or investment units after you become a member of ICFA limited at any time. You can withdraw $1000 equivalent of the share per month at any time. A greater amount needs one-month notice to ICFA Ltd.
To invest, you need to become a member by simply filling an application form and mail it to our address with a cheque payable to ICFA with the payment of $100 membership fee and a number of shares purchased (5 shares minimum i.e. $500).
For further information on property finance click here.