Based on looking at the website, Yescandomoney.com appears to be a UK-based fee-free mortgage broker service. While the website emphasizes helping users find the best mortgage deals without charging broker fees, it’s crucial to understand that involvement with conventional mortgages often entails Riba interest, which is strictly prohibited in Islam. This makes services like Yescandomoney.com, which facilitate interest-based transactions, a problematic choice for Muslims seeking to adhere to Islamic financial principles. Engaging in Riba, whether as a borrower or a facilitator, carries severe consequences in Islam and is considered a major sin. It’s always best to seek financial solutions that are entirely free from interest and align with Islamic ethical guidelines.

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Yescandomoney.com Review & First Look

Based on checking the website, Yescandomoney.com positions itself as a “fee-free mortgage broker” operating in the UK.

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Their primary claim is to help individuals secure the best mortgage deals from a wide range of lenders without charging any direct fees to the client.

This model, often seen as attractive due to the absence of upfront costs, relies on commissions paid by lenders upon successful mortgage applications.

What is Yescandomoney.com?

Yescandomoney.com is a trading name of Roberts Financial Services Ltd, authorized and regulated by the Financial Conduct Authority FCA in the UK.

They offer a brokerage service that connects potential homebuyers and those looking to remortgage or buy-to-let with various mortgage lenders. Hbh-woolacotts.co.uk Reviews

Their stated mission is to simplify the mortgage process, save clients time and money, and secure favorable interest rates.

The “Fee-Free” Model Explained

The “fee-free” aspect is a significant selling point.

Unlike traditional mortgage brokers who might charge a service fee, Yescandomoney.com states they earn their income solely through commissions from the lenders.

While this means no direct cost to the client, it’s important to recognize that the cost of the commission is ultimately built into the lender’s pricing structure, which in turn involves interest.

According to their FAQ, “Free-to-use mortgage brokers earn their income through commissions paid by lenders for each successful mortgage application.” This highlights the inherent connection to the interest-based financial system. Speedyfreight.com Reviews

Initial Impressions from the Website

The website presents a professional and user-friendly interface.

It clearly outlines the services offered, including advice for first-time buyers, remortgaging, moving home, and buy-to-let mortgages.

There’s a strong emphasis on customer testimonials, primarily 5-star reviews from Trustpilot, suggesting a focus on client satisfaction.

The site also highlights a “tree planted for every mortgage,” which attempts to add a layer of ethical appeal, though it doesn’t negate the fundamental issue of Riba.

The Grave Problem of Riba Interest in Finance

For Muslims, the concept of Riba, or interest, is unequivocally forbidden in Islam. Brewinsplumbers.co.uk Reviews

It is not merely a discouraged practice but a major sin with severe warnings in the Quran and Sunnah.

Understanding why Riba is prohibited is crucial for navigating modern financial systems and seeking permissible alternatives.

Why Riba is Forbidden in Islam

The prohibition of Riba stems from its inherently exploitative nature and its detrimental effects on economic justice and societal well-being.

Exploitation and Injustice: Riba allows wealth to be accumulated without genuine effort or risk-sharing. It benefits the lender at the expense of the borrower, often trapping individuals in cycles of debt. The Quran explicitly condemns those who “devour interest.”
Lack of Risk-Sharing: In Islam, economic transactions should involve shared risk and reward. Riba, however, guarantees a return to the lender regardless of the borrower’s success or failure, placing all risk on the borrower.
Moral and Social Harm: Riba discourages productive investment in real economic activities and fosters greed and materialism. It can lead to economic instability, social inequality, and a breakdown of community solidarity.
Divine Command: The Quran in Surah Al-Baqarah 2:275 states, “Allah has permitted trade and forbidden interest.” This is a clear and absolute divine injunction that Muslims are commanded to follow.

The Spiritual and Material Consequences of Engaging with Riba

Engaging with Riba, directly or indirectly, has significant negative ramifications, both spiritually and materially.

Spiritual Consequences: The Quran warns of a “war from Allah and His Messenger” for those who persist in Riba. It is considered a declaration of war against Allah and His Messenger, signifying the gravity of the sin. It corrupts one’s earnings and diminishes blessings barakah.
Material Consequences: While seemingly offering quick gains, Riba-based systems often lead to unsustainable debt, economic bubbles, and financial crises. Individuals and nations can find themselves perpetually indebted, hindering genuine development and prosperity. History is replete with examples of economic downturns linked to rampant interest-based speculation.
Loss of Barakah: Even if one accumulates wealth through Riba, it lacks divine blessings barakah, which means it may not bring true contentment, peace, or lasting benefit.

The Dilemma for Muslims in Conventional Financial Systems

Living in a world dominated by conventional financial systems presents a genuine challenge for Muslims. Minisplits4less.com Reviews

Mortgages, credit cards, and many forms of investment are typically interest-based.

It is a constant struggle to navigate these systems while staying true to Islamic principles.

The general guidance is to avoid Riba in all its forms, and if unavoidable, to minimize exposure and actively seek out halal alternatives.

Yescandomoney.com Cons

While Yescandomoney.com presents an attractive “fee-free” model, its fundamental operation within the conventional mortgage market means it carries significant drawbacks for Muslims.

The cons predominantly revolve around the inherent nature of interest-based financial transactions. Tomato.energy Reviews

The Inherent Riba Interest Factor

The primary and most critical con for Muslims is the involvement with Riba.

Facilitation of Prohibited Transactions: Yescandomoney.com acts as a facilitator for obtaining conventional mortgages. These mortgages are based on interest, which is strictly forbidden in Islam. Even if they don’t charge a direct fee to the client, they are part of a chain that enables and profits from interest-based lending.
Indirect Engagement with Sin: By utilizing their services, a Muslim is indirectly engaging with and benefiting from a system built on Riba. This can be seen as aiding in sin, which is also discouraged in Islam.
No Distinction for Halal Options: The website does not indicate any provision for Sharia-compliant mortgage products e.g., Murabaha, Musharaka, Ijarah, which would involve ethical profit-sharing or cost-plus financing instead of interest. This means their entire service offering is likely built around conventional, Riba-based mortgages.

Potential for Hidden Costs Beyond Broker Fee

While they are “fee-free” as a broker, this doesn’t mean the mortgage itself is without costs or that there aren’t other fees associated with the overall home-buying process.

Lender Fees: Mortgages from lenders will inevitably have arrangement fees, valuation fees, legal fees, and early repayment charges, all of which contribute to the overall cost and can be influenced by the interest rate.
Product Bias Potential: Although they claim to search the “entire market,” their remuneration structure commissions from lenders could, theoretically, subtly influence which products are emphasized or recommended. While an FCA-regulated broker must act in the client’s best interest, the underlying financial incentive remains.

Limited Scope for Islamic Financial Needs

Yescandomoney.com, like most conventional brokers, is not equipped to cater to the specific needs of Muslims seeking Sharia-compliant financial products.

Absence of Islamic Mortgage Options: The absence of dedicated Sharia-compliant mortgage options means that Muslims looking to buy a home without engaging in Riba will find Yescandomoney.com’s services unsuitable for their religious requirements.
No Expertise in Halal Finance: Their advisors, while experts in conventional mortgages, would not possess the specialized knowledge required to guide clients through Islamic financing structures or identify appropriate Sharia-compliant providers.

Yescandomoney.com Alternatives

Given the prohibition of Riba in Islam, it is imperative for Muslims to seek out Sharia-compliant alternatives to conventional mortgages and financial services.

These alternatives are designed to facilitate home ownership and other financial needs in a way that aligns with Islamic principles, avoiding interest. Iatcar.co.uk Reviews

Dedicated Islamic Finance Providers

The most direct and reliable alternative is to seek out institutions that specialize in Islamic finance.

Islamic Banks and Financial Institutions: Several banks and financial institutions globally, and increasingly in the UK, offer Sharia-compliant mortgage products. These are structured differently from conventional mortgages to avoid interest.
- Gatehouse Bank UK: A prominent example in the UK offering Home Purchase Plans HPPs based on Murabaha or Ijarah structures.
- Al Rayan Bank UK: Another well-established Islamic bank in the UK providing Sharia-compliant home finance products.
- Other Global Islamic Banks: Depending on your location, there may be other international Islamic banks with a presence or partnerships that offer such services.
Key Principles of Islamic Mortgages:
- Murabaha Cost-Plus Sale: The bank buys the property and then sells it to the client at an agreed-upon profit margin, payable in installments. There is no interest on the sale price.
- Musharaka Partnership: The bank and the client jointly purchase the property. The client then buys the bank’s share over time, along with a rental payment for the portion of the property owned by the bank.
- Ijarah Lease-to-Own: The bank buys the property and leases it to the client for an agreed period, with the client gradually acquiring ownership at the end of the lease.

Ethical Saving and Investment

For those who are not in immediate need of a mortgage or prefer to avoid debt altogether, ethical saving and investment strategies are excellent alternatives.

Halal Savings Accounts: Look for savings accounts that do not involve interest, often offered by Islamic banks. These might instead involve profit-sharing models.
Sharia-Compliant Investment Funds: Invest in funds that adhere to Islamic ethical guidelines, avoiding industries like alcohol, gambling, conventional finance, and entertainment. These funds focus on real asset-backed investments.
Community-Based Financing: Explore local community initiatives or cooperatives that might offer interest-free loans Qard Hasan for essential needs or engage in collective asset building.

Financial Discipline and Planning

Ultimately, a strong foundation in personal financial discipline is key to avoiding Riba and achieving financial independence.

Budgeting and Frugality: Living within one’s means and avoiding unnecessary expenses can significantly reduce the need for borrowing.
Saving for a Down Payment: Systematically saving for a substantial down payment can reduce the overall amount needed for financing, or in some cases, allow for outright purchase.
Financial Literacy: Educating oneself about Islamic finance principles and different halal financial products empowers individuals to make informed decisions.

How to Avoid Riba in Financial Transactions

Avoiding Riba is a fundamental obligation for Muslims.

While it can be challenging in a Riba-dominated financial world, there are practical steps and principles to follow to ensure one’s transactions are Sharia-compliant. Koffiehenk.nl Reviews

Principle 1: Understanding the Nature of Riba

The first step is to genuinely understand what constitutes Riba.

It’s not just “interest” in the common banking sense, but any unjustifiable increase or excess in a loan or exchange of fungible items.

Riba Al-Nasi’ah Interest on Loans: This is the most common form, where an extra amount is charged on a loan beyond the principal. This is what conventional mortgages involve.
Riba Al-Fadl Excess in Exchange: This involves an unequal exchange of similar goods in quantity e.g., 1kg of high-quality dates for 1.5kg of lower-quality dates. This is less common in modern financial transactions but important to understand.
The Intent is Key: While the external form matters, the intent behind a transaction is also crucial in Islamic finance.

Principle 2: Prioritize Halal Alternatives

Always actively seek out and prioritize Sharia-compliant financial products and services.

Islamic Home Financing: Instead of conventional mortgages, opt for Islamic home finance products like Murabaha, Musharaka, or Ijarah offered by Islamic banks. These are structured as asset-based transactions or partnerships rather than interest-based loans.
Halal Investment and Savings: Ensure your savings accounts and investment portfolios are Sharia-compliant. This means avoiding interest-bearing accounts and investing in ethical funds that screen out prohibited industries and Riba-generating activities.
Avoid Conventional Credit Cards: Credit cards often involve Riba through interest on outstanding balances. If absolutely necessary for emergencies or convenience, choose cards with zero interest periods and pay off the full balance before interest accrues. Better yet, use debit cards or cash.

Principle 3: Financial Prudence and Discipline

A disciplined approach to personal finance is a powerful shield against Riba.

Budgeting: Create and stick to a budget that helps you manage your income and expenses, reducing the need for loans.
Saving: Build a strong savings habit to accumulate capital for major purchases like a home or car, minimizing or eliminating the need for borrowing.
Avoiding Unnecessary Debt: Distinguish between needs and wants. Avoid taking on debt for non-essential items, which often leads to Riba.

Principle 4: Knowledge and Due Diligence

Empower yourself with knowledge about Islamic finance and always perform due diligence. Allpaintbynumber.com Reviews

Educate Yourself: Learn the basics of Islamic finance. Understand the contracts and principles behind halal financial products.
Consult Scholars: If unsure about the permissibility of a financial transaction, consult qualified Islamic scholars who specialize in contemporary Fiqh Islamic jurisprudence related to finance.
Read Documentation Carefully: When dealing with any financial institution, read all contracts and terms thoroughly to ensure there are no hidden Riba elements. Look for clarity on profit rates vs. interest rates, risk-sharing, and ownership structures.

Principle 5: Charity and Purification of Wealth

Even with the best intentions, accidental exposure to Riba might occur in unavoidable situations.

Give Sadaqa Charity: If one inadvertently receives Riba e.g., from a conventional bank account where it’s unavoidable, it should not be consumed but given away in charity without expecting reward, as it is considered impure wealth.
Continuous Tauba Repentance: Seek Allah’s forgiveness for any past dealings with Riba and strive to rectify one’s financial practices.

By actively adopting these principles, Muslims can navigate the complexities of modern finance while remaining steadfast in their commitment to Islamic values, seeking blessings in their earnings and transactions.

The Importance of Ethical and Halal Earnings

In Islam, the source of one’s income and wealth is paramount.

It’s not just about how much you earn, but how you earn it.

Seeking ethical and halal permissible earnings is a fundamental aspect of faith and carries immense blessings, both in this life and the Hereafter. Smartappliancesuk.com Reviews

Blessings of Halal Earnings

Earning a livelihood through permissible means brings numerous benefits:

Acceptance of Du’a Supplication: The Prophet Muhammad peace be upon him emphasized that consuming halal food and earning halal wealth are crucial for the acceptance of one’s supplications. When one’s sustenance is pure, their prayers are more likely to be answered.
Barakah Blessings in Wealth: Halal earnings, even if seemingly small, are blessed by Allah. This means they bring contentment, sufficiency, and true benefit, unlike ill-gotten wealth that may appear abundant but lacks true peace and satisfaction.
Inner Peace and Contentment: Knowing that one’s livelihood is pure brings a deep sense of inner peace, psychological comfort, and a clear conscience. There’s no fear of divine retribution or legal repercussions.
Moral and Spiritual Growth: Engaging in halal work fosters virtues like honesty, trustworthiness, diligence, and justice. It encourages a strong work ethic and discourages deceit, exploitation, and greed.
Social Justice: When individuals earn through halal means, it contributes to a just and equitable society. It promotes fair trade, honest dealings, and mutual benefit, reducing economic disparities and exploitation.
Reward in the Hereafter: Earning a livelihood through halal means, with the intention of providing for oneself and one’s family, is considered an act of worship for which one will be rewarded by Allah.

The Dangers of Haram Earnings

Conversely, earning through haram means, such as Riba, gambling, fraud, or forbidden trades, has severe consequences:

Loss of Barakah: Haram wealth is devoid of blessings. It may seem to increase, but it often brings distress, lack of contentment, disputes, and can vanish quickly.
Rejection of Du’a: The Prophet Muhammad peace be upon him warned against a person whose food and clothing are from haram sources, stating that their supplications would not be answered.
Spiritual Decay: Haram earnings corrupt the heart and spirit, leading to spiritual darkness, distance from Allah, and a weakened faith. It can desensitize an individual to sin.
Divine Punishment: Those who persist in consuming or dealing with haram earnings face severe warnings and punishment from Allah, both in this world and the Hereafter.
Social Corruption: The prevalence of haram earnings leads to corruption, injustice, crime, and moral decay within society, creating an unstable and inequitable environment.

Practical Steps for Ensuring Halal Earnings

Choose a Permissible Profession: Opt for a career or business that is inherently permissible in Islam, avoiding industries involved in alcohol, gambling, Riba, pornography, etc.
Honest Dealings: Be truthful, transparent, and fair in all business transactions. Avoid cheating, deception, false advertising, or exploiting others.
Avoid Riba and Speculation: Steer clear of any transaction involving interest Riba or excessive uncertainty Gharar or gambling Maysir.
Pay Zakat and Sadaqa: Purify one’s wealth by regularly paying Zakat obligatory charity and giving Sadaqa voluntary charity. This cleanses wealth and increases blessings.
Continuous Learning: Continuously educate oneself about Islamic finance and ethical business practices to ensure compliance.

By prioritizing ethical and halal earnings, Muslims not only fulfill a religious obligation but also build a foundation for a blessed life, filled with peace, contentment, and genuine prosperity.

It reinforces the understanding that true success is not merely in accumulation but in purity and divine acceptance.

Secure Your Future the Halal Way

Building a secure financial future is a universal aspiration, but for Muslims, it must be pursued in a manner that aligns with Islamic principles. Pozitivepayments.com Reviews

This means actively seeking out halal pathways for wealth creation, savings, and home ownership, rather than compromising on ethical values.

Sharia-Compliant Home Financing: Your Halal Mortgage

The most significant step for many in securing their future is home ownership.

Instead of conventional, interest-based mortgages, opt for Sharia-compliant alternatives:

Murabaha Cost-Plus Sale: The bank buys the property and sells it to you at a pre-agreed higher price, which you pay in installments. There is no interest involved.
Musharaka Mutanaqisah Diminishing Partnership: You and the bank co-own the property. You gradually buy the bank’s share while paying rent for the portion still owned by the bank. This arrangement dissolves the partnership over time as you become the sole owner.
Ijarah Lease-to-Own: The bank buys the property and leases it to you. You pay rent, and at the end of the lease term, ownership transfers to you.

Key Benefits of Halal Home Financing:

Religious Compliance: Foremost, it fulfills the religious obligation to avoid Riba.
Transparency: These structures are often more transparent in terms of costs and ownership.
Ethical Framework: They are built on principles of justice, fairness, and risk-sharing.

Halal Investment and Savings Strategies

Beyond home ownership, securing your future involves smart savings and investments that are permissible. Acmilan.com Reviews

Islamic Savings Accounts: Choose accounts that offer profit-sharing rather than interest on deposits. These funds are invested in Sharia-compliant businesses.
Sharia-Compliant Investment Funds: Invest in mutual funds, ETFs, or private equity that rigorously screen companies to ensure they operate in halal industries e.g., no alcohol, gambling, conventional banking, arms, adult entertainment and have acceptable debt-to-equity ratios.
Direct Halal Business Investments: Consider investing directly in small businesses or startups that operate ethically and offer halal products or services.
Real Estate Direct Purchase: Acquiring property directly, without Riba-based loans, is a powerful way to build wealth in a halal manner.
Commodities: Investing in physical commodities like gold, silver, or other permissible goods can be a halal wealth preservation strategy, provided the transactions adhere to Islamic trading rules e.g., immediate possession.

Building a Strong Financial Foundation

Regardless of the financial products you use, fundamental principles of financial management are crucial for a secure future:

Budgeting and Financial Planning: Create a realistic budget, track your expenses, and plan for future needs. A well-structured financial plan helps you avoid unnecessary debt.
Emergency Fund: Establish an emergency fund equivalent to 3-6 months of living expenses. This provides a safety net, reducing the temptation to take out interest-bearing loans during unexpected crises.
Debt Management: If you have existing impermissible debts like interest-bearing credit card debt, prioritize paying them off as quickly as possible.
Financial Education: Continuously educate yourself on Islamic finance, personal finance, and investment strategies. The more you know, the better decisions you can make.
Zakat and Sadaqa: Regularly giving Zakat and voluntary charity Sadaqa purifies your wealth and attracts blessings. It’s a form of spiritual investment that enhances financial well-being.

By consciously choosing halal avenues for financing, saving, and investing, and by adopting sound financial discipline, Muslims can build a future that is not only financially secure but also spiritually blessed and aligned with their faith.

This approach ensures that prosperity in this world also contributes to success in the Hereafter.

Frequently Asked Questions

Is Yescandomoney.com a legitimate company?

Yes, Yescandomoney.com is a legitimate company, operating as a trading name of Roberts Financial Services Ltd, which is authorized and regulated by the Financial Conduct Authority FCA in the UK under authorization number 527815.

Does Yescandomoney.com charge a fee to clients?

No, according to their website, Yescandomoney.com offers a “fee-free” mortgage broker service to clients. Enviroglaze.org Reviews

They state that they receive commission directly from the mortgage lenders.

How does Yescandomoney.com make money if they are fee-free?

Yescandomoney.com states that they earn their income through commissions paid by lenders for each successful mortgage application they facilitate.

Is using a mortgage broker like Yescandomoney.com cheaper?

According to Yescandomoney.com, using a fee-free mortgage broker can save clients time and money by helping them navigate the market of over 14,000 mortgage products from over 90 lenders to find the lowest rates and fees available.

Is Yescandomoney.com Sharia-compliant for Muslims?

No, based on the information provided, Yescandomoney.com facilitates conventional, interest-based mortgages, which involve Riba and are not Sharia-compliant for Muslims.

What are the alternatives to Yescandomoney.com for Muslims seeking a mortgage?

Muslims should seek out dedicated Islamic finance providers, such as Gatehouse Bank or Al Rayan Bank in the UK, which offer Sharia-compliant home finance products like Murabaha, Musharaka, or Ijarah. Sender.net Reviews

What is Riba and why is it forbidden in Islam?

Riba is interest or any unjustifiable increase in a loan or exchange, and it is strictly forbidden in Islam because it is considered exploitative, unjust, and undermines economic justice and fair trade.

Are there any hidden fees when using a “fee-free” broker?

While Yescandomoney.com does not charge a broker fee, clients will still incur standard mortgage-related fees charged by the lender, such as arrangement fees, valuation fees, and legal fees, which are part of the overall cost of a conventional mortgage.

Can Yescandomoney.com help with adverse credit mortgages?

Yes, the website mentions that YesCanDo Mortgage Specialists, their sister company, may be able to help clients with adverse credit, such as CCJs, defaults, or arrears, by working with specialist lenders.

Does Yescandomoney.com offer remortgaging services?

Yes, Yescandomoney.com provides services for remortgaging, stating they search the entire market to find the best remortgage deals.

Do they assist first-time buyers?

Yes, Yescandomoney.com explicitly states they assist first-time buyers with a dedicated mortgage adviser and guidance through the entire process. Ctbalarms.co.uk Reviews

Can I get a buy-to-let mortgage through Yescandomoney.com?

Yes, Yescandomoney.com offers services for buy-to-let mortgages, aiming to find competitive rates and deals for landlords.

How quickly can Yescandomoney.com secure a mortgage offer?

Based on customer testimonials, some clients have reported receiving a mortgage offer within two to three weeks of starting the process.

What kind of communication can I expect from Yescandomoney.com?

Clients can expect communication via phone, video call, WhatsApp, and email, with the website highlighting their use of WhatsApp for convenient updates.

Does Yescandomoney.com provide mortgage advice?

Yes, Yescandomoney.com offers free expert mortgage advice from experienced advisors who provide personalized guidance.

What is a Mortgage In Principle?

A Mortgage In Principle also known as a Decision In Principle or DIP is a document from a lender indicating how much they are theoretically willing to lend you, often required by estate agents when making an offer on a property. Yescandomoney.com can help you obtain one. Londonstore.it Reviews

Does Yescandomoney.com work with many lenders?

Yes, Yescandomoney.com claims to compare over 14,000 mortgages from 90+ lenders to secure deals for their clients.

How does Yescandomoney.com simplify the mortgage process?

They claim to handle all the research, paperwork, and communication with lenders on behalf of the client, aiming for a hassle-free journey.

What does “A Tree Planted for Every Mortgage” mean?

This is a corporate social responsibility initiative where Yescandomoney.com states they arrange for a tree to be planted for every mortgage completed through their service.

Where can I read customer reviews for Yescandomoney.com?

Yescandomoney.com prominently features customer reviews, primarily 5-star ratings, from Trustpilot on their website.

Yescandomoney.com Reviews