Progressive Payment Schedule for Building under Construction (BUC) properties

engineers at building under construction site

Under the progressive payment scheme, the drawdown of your mortgage is scheduled into various stages as shown in the below following table:

Stage

Payment under a standard payment scheme ( % of purchase price )

Upon the grant of Option to Purchase

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 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

5%

Temporary Occupation Permit or Certificate of Statutory Completion

25%

On completion date

15%