Offa to launch refurbishment bridging product after securing new funding line from Gulf Islamic Investments

10 May 2023

Britain’s first Sharia-compliant bridge finance company Offa is expanding its product portfolio by adding a refurbishment category.

Underpinned by a new funding facility from Gulf Islamic Investments, Offa’s latest finance product will target property investors from the UK’s 4 million strong Muslim community who want to renovate or refit their existing residential and commercial properties. The UAE’s Gulf Islamic Investments – a majority shareholder in Offa -- has provided the Solihull-based bridging company with a new funding line for an undisclosed amount to support its new refurbishment product. It means Offa can advance property investors finance covering up to 100 percent of their costs for light and heavy refurbishment works.

“Offa was formed to create more choice in the market and to give Muslims access to property finance that is compatible with their faith. Our customers vary from aspiring landlords to seasoned investors, and many have enquired about finance for refurbishments. The new funding line from Gulf Islamic Investments allows us to launch a product that is specifically tailored for this market,” said Offa CEO Bilal Ahmed.

Unlike a standard bridging loan, Offa’s products are governed by Sharia principles, which forbid the charging of interest and set out a more ethical structure of finance. The process removes market risk as Offa’s profit is fixed from the outset of the transaction, giving certainty to all parties.

Offa’s new refurbishment product is ideal for both residential and commercial property investors wishing to carry out light refurbishments that do not require planning permission, as well as those undertaking bigger structural changes to their property.

Available from the end of this month, the key features for Offa’s new bridging product include finance of between £100,000 and £2 million (net FTV of 75% for residential and 65% for commercial) for a term of 1-18 months for renovations to properties in England and Wales.

Applications can be made online at or via brokers.