Payment Schemes

For Executive Condos (ECs), buyers will have to obtain loans from banks or financial institutions (loans from HDB are not available).

The ceiling for bank loans is as follows:

Date of Booking (EC)	Loan Ceiling
Date of booking on or after 20 Feb 2010	80% of purchase price

Buyers with one or more outstanding housing loans

If you have an outstanding housing loan at the time of applying for a housing loan, the loan ceiling will be as follows:

Date of Booking (EC)	Loan Ceiling
Date of booking after 14 Jan 2010	60% of purchase price

Normal Payment Scheme (Progressive Payment Scheme)

Stage	Percentage
Upon the grant of Option to Purchase (OTP)	5% - 10% (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	10%
Completion of brick walls	5%
Completion of roofing /ceiling	5%
Completion of electrical wiring, internal plastering, plumbing & installation of door & window frames	5%
Completion of car park, roads & drains serving the housing project	5%
Notice of Vacant Possession (TOP)	25%
On Completion Date	15%

Deferred Payment Scheme

Stage	Percentage
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	15% less booking fee
Notice of Vacant Possession (TOP)	65%
On Completion Date	15%

Source: extracted & amended from URA site

Propnex Realty Pte Ltd.
License No: L3008022J

480 Lorong 6 Toa Payoh
HDB HUB East Wing #10-01
Singapore 310480.
www.Propnex.com