Ali will work with brokers to help deliver home ownership solutions for Muslim clients who need Sharia-compliant financial solutions, which means they need to avoid paying or receiving interest.
He joins from HBL Bank, where he was a senior relationship manager for around a year, and before that worked at Al Rayan Bank for around 11 years, most recently as senior BDM.
StrideUp offers a home purchase plan product that allows customers to purchase or refinance a home, with a structure that works for all customers while allowing it to be certified as Sharia-compliant.
It also attracts non-Muslim customers due to its features and flexible underwriting approach, including foreign nationals with 15 per cent deposit and one year remaining on their visa, customers with gifted deposits, and self-employed applicants where last year’s income is accepted.
Sakeeb Zaman, CEO at StrideUp, said: “Rizwan is a highly respected and innovative senior BDM with extensive experience in fast-paced and challenging environments. His expertise and enthusiasm will help us take the StrideUp proposition to even more brokers.
“Brokers require different permissions to advise on home purchase plans, but with StrideUp, they can simply refer the client on to us, and we will take on the responsibility for providing compliant advice.
“This way, brokers can help clients secure the finance they need, providing a good customer outcome and still receive a procuration fee, meaning an additional income stream without having to add those permissions to their own business.”
Ali added: “I’m excited to join StrideUp, as it provides a competitive and flexible Sharia-compliant product range that can help serve the UK’s four million Muslims that require Islamic Finance options.
“The mortgage market at the moment doesn’t work for all aspiring homeowners, and StrideUp empowers brokers to reach a new audience, helping Muslims to achieve their property goals with an ethical and Sharia-compliant product.
“StrideUp aims to do things differently, delivering a fresh perspective and inclusive way of supporting those buyers to achieve their aims, and I am looking forward to being part of the team that achieves this.”
StrideUp was recently added to the lender panel for Legal and General Mortgage Club.
