FREQUENTLY ASKED QUESTIONS (FAQ)
1- What is the Rent–To–Own Policy about?
ANSWER- The Rent-to-Own Policy is aimed at making housing more readily available, accessible and affordable for the low, middle and high-income earners with flexible payment plans. This policy is to ensure that Crystal Garden City Ltd live up to its social obligation to innovate, aspire and provide affordable shelter (homes) to everyone and assist them to acquire their own homes. Through this policy, prospective homeowners make a 15% down payment, take possession and pay up the remaining balance as rent towards the ownership of the property within a period of 10 years.
2- Can I pay off my Monthly Rent Balance earlier than the 10-year term?
ANSWER- YES! We have flexible Instalment payment plans from 1 year up to 10 years.
3- What are the required documents for the employee needed to complete the application and submission process?
• NIN
• BVN
• RESIDENT ADDRESS
• OFFICE ADDRESS
• COMPANYS CONTACT (NUMBER)
• REFERENCE LETTER FROM EMPLOYER
• 6 MONTHS BANK STATEMENT OF ACCOUNT
4- Who is in charge of the construction?
ANSWER- Crystal Garden City Ltd
5- Can I get a home inspection before payment commence?
ANSWER- YES, you can
6- What are the total costs of the property?
ANSWER- The total outright payment is N15, 000, 000 (Fifteen Million Naira Only) with also a 9% interest per annum rate only
7- How much do I need to pay for Down Payment?
ANSWER: 15% initial deposit (N2, 250, 000)
8- Where is the property located?
ANSWER: The Rent-To-Own project schemes are located in a Prime Location. We presently have proposed projects on Mainland and island.
9- Can I have a co-applicant?
A: Yes! But it can only be your spouse and both of you have to be individually eligible under the Rent-To-Own Scheme and you will own joint title to the home if successful.
10- What happens if I pay outrightly, will I still have to pay the mortgage payment (extra charges)?
ANSWER: NO!