* EC Normal Progressive/Deferred Payment

Payment mode for Executive Condominium building under construction chart:-

Normal Progressive Payment
Deferred Payment

Normal Progressive Payment Scheme :

After placing 5% (Cash) of booking fee for the selected unit, Buyer shall fulfill the 15% (CPF/Cash) of purchased price upon signing Sale & Purchase Agreement (S&P). With new MAS mortgage loan has changed to 75% maximum, so at the foundation calling of 10% …. A part 5% is to be paid by buyer and the other 5% to be able to obtained in housing loan.

The proceeding balance shall be financed through bank according to stages of construction if buyer is approved at 75% housing loan. Buyer would service the monthly housing loan from then on accordingly.

Deferred Payment Scheme :

After placing 5% (Cash) of booking fee for the selected unit, Buyer shall fulfill the 15% (CPF/Cash) of purchased price upon signing Sale & Purchase Agreement (S&P).

Thus the proceeding 80% balance shall be financed through bank according to stages of construction if Buyer has taken up deferred payment. The Buyer would only starts service the home loan monthly from time of Temporary Occupation Period (TOP), that is the time when Buyer had collected the house keys. For deferred payment, usually price sold for the unit is always higher than normal progressive payment.