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EC Deferred Payment Scheme

No Loan Repayment Is Required During The Construction Period

Deferred Payment Schedule for Buying New Launch Executive Condo

Make Instalment Payments Only After You Are Given Temporary Occupation Permit (TOP)

EC Deferred Payment Scheme allows EC Buyers to put down 20 per cent downpayment. The remaining 65 per cent 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. 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.

EC Deferred Payment Scheme (LTV 75%)

Stage%DescriptionWhen to Get ReadyPayment Mode
1st5%Booking & Obtaining Option To PurchaseDay 1Cash
Payment of Resale Levy

  • If the 1st subsidised flat already been sold. Payment at the HDB Branch, before EC Buyer sign the S&P.
  • If the 1st subsidised flat is not sold yet, pay upon the sale of the 1st subsidised flat, within 6 mths from the date of TOP
Cash
Buyer to engage solicitor (~ $3000)
Buyer to select the Mortgage Loan (Stamp fee ~$500)
Buyer to submit documents to HDB
ASAPCash or CPF OA
Buyer's Stamp DutyWithin 2 weeks upon signing S&PCash or CPF OA
15%DownpaymentWithin 9 weeks from Date of OptionCash or CPF OA
2nd5%Completion of Foundation Work
完成地基
Cash or CPF OA
5%Bank Loan
10%Completion of Reinforced Concrete
完成三合土框
Bank Loan
5%Completion of Brick Wall
完成砖墙
Bank Loan
5%Completion of Ceiling / Roofing
完成天花板/屋顶
Bank Loan
5%Completion of Doors & Windows Frames are in position, the Electrical Wiring & Plumbing & Internal Plastering
完成门/窗框,电线,水管及内部抹灰
Bank Loan
5%Completion of Car Park, Roads and Drains
完成停车场道路与水渠
Bank Loan
25%Obtaining Temporary Occupation Permit (TOP)
取得临时居住许可证
Bank Loan
3rd15%Upon Production of the Certificate of Statutory Completion (CSC)
取得法定完工证书
Bank Loan
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