Is it permissible for a mortgage to be in the name of a family trust, with the individuals being trustees or beneficiaries, and not directly engaging with the bank?

Mortgage is a prohibited usurious transaction based on lending with interest, where the lender mortgages the property to guarantee the repayment of the debt with interest. This is practiced by usurious banks or mortgage companies, where the full price of the property is paid to the seller, and a contract is signed with the borrower that includes the amount paid plus the usurious interest, and the property is mortgaged in favor of the financing entity. This transaction is considered explicit usury, which Allah has forbidden and warned those who consume it. It is not permissible, whether in Muslim lands or elsewhere, nor for the purpose of owning homes or shops.

Many scholars have opposed those who permitted this transaction in disbelieving lands on the pretext of need, emphasizing that borrowing with usury is forbidden by Islamic law according to the consensus of scholars, and that the necessity which permits the forbidden only removes the sin, while need does not permit it.