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The third provider in seven years.
Offa got an HPP licence. StrideUp already had keys on doors. Ibrahim Khan is writing cheques into both. The village is trying to become a high street.
The Mizan desk · 7 September 2026 · 11 min
On 18 March 2025 the FCA authorised Offa to provide Home Purchase Plans. Offa called it the first new HPP licence to a newly authorised entity in more than seven years. That made them the third active provider, beside Al Rayan and Gatehouse, with BLME and UBL still at the specialist end and StrideUp already originating as a non-bank.
Certification sits with Amanah Advisors, led by Mufti Faraz Adam. That is an audit trail. It is not a personal fatwa for your postcode. Offa’s 2026 HPP arrived with a paperless application and a family-assist feature. They already sold BTL, bridge, and bridge-to-let. The pitch to brokers was speed — the thing the faith-penalty survey said the industry did not have.
| Provider | Snapshot | Notes |
|---|---|---|
| Offa | 4.50% Q3 2026 card | New HPP 2026, diminishing musharakah |
| Gatehouse | 5.09% | Houses up to 95% LTV |
| Al Rayan | 5.14% | Retail bank HPP |
| BLME | 5.29% | Specialist |
| UBL UK | 5.35% | Specialist |
| StrideUp | from 5.99% site | Up to 90% FTV — treat as snapshot |
A new licence is not a new ruling. It is a new queue at the Land Registry.
StrideUp’s head start
StrideUp’s first customer picked up keys in January 2022. The HPP is diminishing musharakah plus ijara, FCA-regulated, also under Amanah Advisors. Up to 90% finance-to-value, up to four applicants, multiple income types. Site copy in late 2025 advertised rates from 5.99%. That number will have moved. Print it in pencil.
Ibrahim Khan’s October 2025 thread — 28,000 views — said the £40m fund was writing lines to both StrideUp and Offa because more providers, not another fatwa, close the 1–2% gap. Industrial logic. Kitchen logic is still: who owns the brick when the rain comes in.