07/03/2024
Introducing Ruman, a family man and business owner in Tower Hamlets. He explains why east London is the perfect location for his shared ownership home.
Meet Ruman a dedicated family man and business owner who has spent his entire life in Tower Hamlets. Having been in the shared ownership business for 12 years, Ruman shares his own journey of becoming a homeowner in a location he loves. His story sheds light on the challenges he faced as a Muslim, and how shared ownership played a crucial role in overcoming them.
Ruman’s journey to shared ownership
Ruman’s journey into shared ownership started when he took up a job in a housing association, at the tender age of 16. Over the years, he worked in various housing roles, gaining a deep understanding of the shared ownership process. Eventually, Ruman identified a gap in the market – focusing on helping shared owners sell their properties. This realisation led him to establish his own business, which has served this specific demographic over the past six years.
Islamic principles and homeownership
Ruman faced a specific challenge. As a Muslim, there are certain Islamic principles that he abides by which discourage conventional mortgages. He struggled to find a suitable solution. That is, until a new shared ownership opportunity emerged…
With a 10% share option available through Poplar HARCA, Ruman and his family found a property that aligned with their values as Muslims and enabled them to become homeowners. This innovative approach allowed them to pay for the share in cash and gradually increase their ownership over time.