If your financial circumstances change for any reason and you are unable to meet your monthly payment, you should contact the lender as soon as possible. The lender will take all appropriate steps to help you. They may consider adding new names to the contract but you must remember that your home is at risk if rental payments are not maintained. Lenders tend not to offer life cover or income protection because many don't have any Shariah compliant alternatives available. Non Shariah compliant life cover or income protection is your own personal choice.
Under certain circumstances the State will pay the interest on a standard interest-based mortgage if a customer becomes unemployed. Since interest is not payable it is uncertain what the State's response will be to Islamic Home Finance. The matter is being looked at by the Government at the moment and but you should be aware, at this time, that you may not be able to access the same level of State support that is currently available for conventional mortgages.
