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How it works, a Step by Step Guide You choose the property you want to buy and negotiate the price with the seller. Alternatively, you may wish to repay a traditional mortgage and refinace your property. Then Apply to HSBC Bank for Amanah Home Finance where, if the application meets our criteria, financing will be agreed. Your Solicitor or other legal adviser will be sent the legal documents and will explain these to you. If you then decide to continue, you will be asked to sign the Amanah Home Finance letter. By doing this you will accept the finance. Your solicitor or other legal adviser will make sure that the title of the property is acceptable and approve the contract for the purchase of the property, ensuring that the contract to buy is capable of being transferred to us. Contracts will be exchanged with the person you are buying the property from , or us in the case of a refinance. This will be a binding contract for the purchase of the property. A date will also be agreed when we will become the owner of the property and lease it to you. Our solicitor will register the bank's ownership of the property in its name. Yor solicitor or other legal adviser will register your ownership of the tenancy in your name. You'll need to make a monthly Amanah Home Finance payment to us for the term of your finance. The payment will be made on the 25th of every month, and will be collected from your account by Direct Debit. Your payment will comprise: rent, on-account payment and building insurance (and any other sums payable for a leasehold property).