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I know taking loan and mortgage in haram in Islam. In UK, I am paying the amount of money as rent which I can pay as mortgage. If I pay as mortgage I will be the owner of that house after several years. But paying the rent I have to pay in this manner for the rest of my life and never be the owner a house. In this time, it is quite tough to pay all the money all at a time.

I know related the punishment and warning related to what Quran and hadith has said.

Actually I want to know inner meaning why mortgage is haram in Islam. What are the bad consequences of taking mortgage? What is overall effect? I want a clear explanation.

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In and of itself, mortgaging isn't haram in Islam; there are a number of hadiths (e.g. this one recorded in Bukhari) indicating that the prophet himself engaged in mortgaging transactions. The same can be said for the taking of loans.

The problem with mortgaging comes from the fact that such loans often involve interest. For example, if you receive a fixed amount for mortgaging your home, you'll still be expected to pay back more than the principal in order to get the house out of mortgage and back into your name. According to pretty much every scholarly opinion I'm aware of, this sort of transaction clearly runs afoul of the prohibition on riba and the prophet's injunction against not only charging it, but also paying it.

For some explanations on the bad consequences of riba itself (which is too broad a topic to cover satisfactorily in this answer), you can read the answers on this related question: Why is Interest such a bad thing according to Islam?

If the mortgage and/or loan does not involve any form of interest, I know of no reason it would be forbidden.

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