I was given an offer to get a loan for a builder, in return of which he would give me 6% of the loan amount.
The procedure of work is:
- The builder would put his property in my name which I need to mortgage at the bank to take a riba based home loan which would be paid in EMIs.
- The builder with this money will complete the remaining works of the same flat and look for a buyer.
- When he gets a good deal, he would close the loan with pre-closure fees rather than riba and I will return the property to the builder.
- I have shown all genuine documents to the bank for obtaining the loan.
- He will clear the loan as soon as he will sell off the property to someone, so he will pay early clearance fees to close the loan early and not interest.
- The person who wanted the loan had transferred money to our accounts which we paid as a down payment for the home loan to him and possibly he rotated the same money twice or thrice for showing full down payment transfer.
- The borrower will pay some installment at the beginning, which may have percentage of interest in it.
- I had to lie on one or two instances about things which are not related to the loan but asked during inquiry prior to giving the loan.
- Will this money that I obtained be considered as haram completely or partially?
- If this money is haram, will any profit that I obtain by investing it also be haram? I intend to give the basic haram money to needy people as and when they approach in my life.
- In case this money is haram for me can I still take the money and give charity without any hope of obtaining sawab out of it?