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.