What is the ruling on purchasing an apartment in Europe through a usurious bank that buys the property then sells it for a fixed annual profit margin, with no condition of an increased usurious charge upon defaulting on installments, but which sells the house at auction in case of prolonged default on payment, knowing that the person does not own the house until the installments are fully paid and wishes to rent it out to cover the installments?

If the bank buys the apartment and it enters into its possession and guarantee, then sells it to the inquirer with a separate contract and specific installments, there is no harm. However, it is not permissible for the bank to retain ownership of the apartment until the price is paid. The correct approach is for the apartment to be mortgaged to the bank to guarantee its right, with its ownership transferred to the buyer. In case of default on payment, it is sold, and the bank takes its right.