This will be available to borrowers refinancing a UK property with the lender. Its refinance product has rates between 5.49% and 6.05% and is available up to 75% finance to value (FTV) on a two- or five-year term. 

Nomo’s products are available to residents of the UAE, Saudi Arabia, Kuwait, Bahrain and Qatar, including expats and foreign nationals. 

As well as the £1,000 cashback incentive, Nomo is offering a free valuation and zero arrangement fees on its refinance products. 

Chris Monaghan, B2B marketing lead at Nomo, said: “At Nomo, we provide residential and buy-to-let finance products to Gulf Cooperation Council [GCC] customers buying or refinancing a property in the UK. For those wishing to adhere to Islamic principles, they can be confident that the products are Sharia-compliant.

“We know that many GCC residents already own UK properties and make use of property finance products. When it comes to refinancing, there isn’t always a lot of choice for their next fixed rate.

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“This new offer provides customers with a great option for their next refinance requirement and gives brokers another property finance option to ensure they get the best outcome possible for their customers.”

Nomo has been broadening its distribution in recent months, including a partnership with Access Financial Services to enable its advisers to broker its products and its addition to the Mortgage Brain Sourcing Brain platform.