How It Works - Yes I Have a Down Payment

This is the most common way people Lease to Own their homes with Creative Property Solutions. Our program is designed to help people obtain their own financing as quickly as possible and realise the ultimate dream of home ownership. This program is available for all properties in our Property Listings inventory or through our other Purchase Programs.

The lease is based on a minimum one-year term with the option to extend for a second and third year if necessary. In our experience, most people typically are able to obtain their own financing after one or two years. Our program helps you build or repair your credit, which may be all you need to obtain conventional financing.

The purchase price is established at the beginning of the lease term and is guaranteed for one year. The guaranteed purchase price is based on the projected value of the home one year from the day you move in. If you require more time and wish to extend for a second or third year, the purchase price will be increased by 0.5% per month until you are ready to exercise your Option to Purchase. This allows you to personally benefit from equity appreciation over the 0.5% monthly increase. This lease extension will also provide you with additional time to accumulate a larger down payment.

Your initial Option Deposit (down payment) will be applied to the purchase price and will be viewed by conventional lending institutions as an acceptable down payment when you exercise your Option to Purchase.

Our monthly payments are truly all inclusive: property taxes, structural (building) insurance, condo fees (if applicable), lease payments and Lease Option Credits are all included. The Lease Option Credits are credited toward your down payment in addition to your initial down payment when you exercise your option to purchase the property. The Lease Option Credit amount varies depending on the property you select and will be available for the entire lease term.

In an extended effort to make the monthly lease payments even more affordable, we provide our clients with the option to reduce their monthly payments. For each additional £1,000 of down payment you supply above the minimum required, we will reduce the monthly lease payment by £15.00.

In comparison with conventional financing, this option provides you with approximately double the monthly payment reduction.

Please note: this option does not affect the monthly Lease Option Credits that we offer. This option is not applicable to our No Money Down program.

See an example Lease Option with Down Payment

   What Happens at the End of the Lease Term?

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