None.

Administrative expenses and a return on the provided investment. The mark-up is fixed given the agreed-upon duration of the contract (unconditional of future developments in interest, housing prices, etc.). The mark-up will not change upon later or earlier repayment.

The residential property will serve as collateral for the asset-backed mortgage during the whole duration.

For financial reporting purposes, the residential property classifies as investment property and will be presented as a tangible fixed asset.

 As the customer gradually obtains control of the property, the carrying amount of the investment property will gradually decrease.

The potential sale of the residential property is at the customer’s discretion, whether due to rehousing, divorce, loss of job or otherwise.

 Under the musharaka contract, the monthly instalments are fixed. However, the client is not burdened by a fixed debt. If the customer sells the house, the profits (or losses) of the sale will be shared between We Live Free and the customer according to the ownership details at the transaction date.

The customer receives written notifications of their payments past-due in the first three months after the due date. During this time, the We Live Free team will actively communicate with the customer in order to verify the reasons for non-payment and possibilities of resuming the payment scheme. If, after due process, the customer still has not resumed the payment scheme after 6 months, We Live Free will research the possibilities for repossession and exercising its collateral rights (‘regular’ financial institutions in the Netherlands maintain a 3-month period).

No interest or other charges whatsoever accrue for payments past-due, other than an additional cost mark-up to recover the expenses made by We Live Free for recollection of the debt.

All expenses to maintain the residential property in a normal state are born by the customer.

None.

Administrative expenses and a return on the provided investment. The mark-up is fixed given the agreed-upon duration of the contract (unconditional of future developments in interest, housing prices, etc.). The mark-up will not change upon later or earlier repayment.

The residential property will serve as collateral for the asset-backed mortgage during the whole duration.

For financial reporting purposes, the contract classifies as an asset-backed loan and will be presented as a financial fixed asset.

The potential sale of the residential property is at the customer’s discretion, whether due to rehousing, divorce, loss of job or otherwise.
Under the murabaha contract, the debt is fixed. If the customer sells the house at a value exceeding the remaining debt, the customer receives the additional profit. If the customer sells the house at a value below the remaining debt, the customer maintains a residual debt, to be repaid at a payment scheme to be agreed-upon.

The customer receives written notifications of their payments past-due in the first three months after the due date. During this time, the We Live Free team will actively communicate with the customer in order to verify the reasons for non-payment and possibilities of resuming the payment scheme. If, after due process, the customer still has not resumed the payment scheme after 6 months, We Live Free will research the possibilities for repossession and exercising its collateral rights (‘regular’ financial institutions in the Netherlands maintain a 3-month period).

No interest or other charges whatsoever accrue for payments past-due, other than an additional cost mark-up to recover the expenses made by We Live Free for recollection of the debt.

All expenses to maintain the residential property in a normal state are born by the customer.