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