Finova powers Offa’s new Sharia-compliant Home Purchase Plan

02 March 2026

2 March 2026 – Finova, one of the UK’s leading providers of cloud-based savings and originations technology, has powered the launch of Offa’s new residential Home Purchase Plan (HPP). Offa, the UK’s leading Sharia-compliant finance provider, chose Finova’s configurable infrastructure to support the launch of its HPP, designed to deliver near real-time credit decisions, depending upon credit rating and risk criteria.

Offa’s HPP follows Islamic finance principles of co-ownership-with-leasing, with customers gradually acquiring full ownership of a property instead of paying interest. This requires finance providers to manage dynamic ownership shares, profit-based returns and alternative affordability checks – something many legacy origination systems can’t handle easily.

Finova’s configurable rules engine allowed Offa to build and launch the product on its cloud-native platform without overhauling its core infrastructure. Product rules, income multiples, gifted equity and family-supported affordability models were all configured within the platform’s decisioning framework, resulting in a fast launch alongside strong underwriting controls.

Through the platform’s fully automated affordability assessment, integrated credit decisioning and digital document workflows, Offa can deliver a fully paperless application journey. Automation across the origination process helps Offa make much faster offer decisions, all while maintaining strong compliance and managing risk.

Offa’s residential expansion builds on its existing buy-to-let proposition, with both now powered by Finova and consolidated onto a single lending technology stack.

Ray Barry, Customer Success Director at Finova, said:

“Offa’s new product launch highlights the flexibility modern infrastructure must deliver in the current era of finance. Islamic finance structures introduce genuine complexity, from co-ownership modelling to alternative profit calculations, but those requirements should not slow innovation or speed to market.

“As our platform is fully configurable, Offa was able to design a Sharia-compliant residential proposition and bring it to market quickly, without compromising on automation, speed or risk control.”

Sagheer Malik, Chief Commercial Officer and Managing Director of Home Finance at Offa, added:

“We are modernising Islamic home finance by combining faith-based principles with the speed and paperless experience customers expect from mainstream finance providers. Finova’s technology allowed us to configure a highly specialised product within a scalable, automated framework, supporting fast decisions and a seamless customer journey.”