IFG review of Pfida (formerly Primary Finance) home finance (UK)

Islamic Finance Guru's review covers Pfida (formerly Primary Finance), a UK home-finance alternative built on a genuine risk-sharing partnership rather than a debt structure. The customer contributes a minimum 20% deposit, Pfida funds the remainder, and the customer owns their proportionate stake while paying rent on Pfida's share; rent falls as the customer voluntarily buys further equity, with no obligation to purchase the rest, until full ownership is reached. IFG assesses Pfida as a genuinely interesting proposition with real risk-sharing and pricing broadly in line with the Islamic banks, but flags two practical constraints: a multi-year waitlist (reported as around five years) and that Pfida is not currently FCA-regulated because its product involves no lending — IFG notes FCA regulation would be welcome for consumer confidence. The review situates Pfida alongside the established Islamic banks, which had financed far larger volumes at the time of writing.