Also known as Progressive Payment Scheme, allows you to service your loan via monthly instalments progressively stage by stage as the property is being built.
Stage |
Payment Under a Standard Payment Scheme (% of Purchase Price) |
Upon the grant of Option to Purchase |
5% (Booking Fee) |
Upon signing of the Sale & Purchase Agreement or within 8 weeks from the Option date |
20% less Booking Fee |
Completion of foundation work |
10% |
Completion of reinforced concrete framework of unit |
10% |
Completion of partition walls of unit |
5% |
Completion of roofing/ceiling of unit |
5% |
Completion of door sub-frames/ door frames, window frames, electrical wiring, internal plastering and plumbing of unit |
5% |
Completion of car park, roads and drains serving the housing project |
5% |
Notice of Vacant Possession (TOP) |
25% |
On Completion date |
15% |