EC Deferred Payment Scheme2018-06-29T16:55:01+00:00

EC Deferred Payment Scheme

EC Deferred Payment Scheme allows EC Buyers to put down 20 percent downpayment. The remaining 65 percent is deferred until receiving a Notice of Temporary Occupation Permit (TOP). Or in simple terms, until the EC Executive condominium is ready to move into.

If EC Buyers opt for Deferred Payment Scheme, they do not need to handle two mortgage loans at the same time. No loan repayment is require during the construction period. It offers those with existing loan repayment some flexibility in managing their finances.

However, the purchase price for Buying the New Launch EC on EC Deferred Payment Scheme is usually 2-3% higher than the normal EC purchase price.

Order of Payment Progress of Payment % of Payment
1st Booking / Option Fee

  • Upon booking and obtaining Option To Purchase (OTP)
  • By Cash
  • S&P will be delivered to buyer’s lawyer or to the buyer (if no lawyer is appointed yet), upon HDB approval.
  • Buyer needs to sign the S&P at law firm and return the S&P to the developer, within 3 weeks upon receipt of S&P.
5%
Buyer’s Stamp Duty

  • Within 14 days upon signing S&P, by Cash or CPF OA
    • 3% – $5400

Additional Buyer’s Stamp Duty

  • Not Applicable
Down Payment Less Booking Fee

  • Within 9 weeks from the signing of Option of Purchase
  • By Cash and/or CPF
15%
2nd Upon obtaining Temporary Occupation Permit (TOP) 65%
3rd On completion date 2%
Upon production of the Certificate of Statutory Completion 8%
On the expiry of 12 months from the date of notice to take vacant possession 5%

Call Joanne Ng at
+65 9151 1871
for Showflat Viewing Arrangement Today!

No Matter Of Which Residential Property You Are Interested In …

We will always put your benefits in the top priority.

Call +65 9151 1871 Now