progressive payment scheme | SGPD https://sgpropertydetective.com Investigate new launches - I.R.L. - Investability, Rentability, Livability | Share Must-Knows for new and existing property owners Sat, 26 Aug 2023 08:15:41 +0000 en-US hourly 1 https://wordpress.org/?v=6.3.1 https://sgpropertydetective.com/wp-content/uploads/2023/08/cropped-cropped-Photo-14-8-23-2-49-52-PM-4-32x32.png progressive payment scheme | SGPD https://sgpropertydetective.com 32 32 SGPD 60-Sec Read: What is Progressive Payment Scheme for new launch condo or EC? https://sgpropertydetective.com/60-sec-read/sgpd-60-sec-read-what-is-progressive-payment-scheme-for-new-launch-condo-or-ec/ Fri, 25 Aug 2023 08:30:40 +0000 https://sgpropertydetective.com/?p=1316 What is Progressive Payment Scheme (PPS)?​ For a new condo or EC that is still under construction at your point of purchase, your payment to the developer will be in phases called the Progressive Payment Scheme. The Progressive Payment Scheme allows you to defer your home loan instalments as you...

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What is Progressive Payment Scheme (PPS)?​

For a new condo or EC that is still under construction at your point of purchase, your payment to the developer will be in phases called the Progressive Payment Scheme.

The Progressive Payment Scheme allows you to defer your home loan instalments as you will not servicing the full 75% of your loan amount immediately upon purchase.

Advantage of Progressive Payment Scheme (PPS)

The Progressive Payment Scheme allows you to defer your home loan instalments.

You will not be servicing the full 75% of your loan amount immediately upon purchase.

Instead, your repayments will be in phases, according to the milestone timeline that is adhered by developers.

If the developer is late or the milestones are not reached, the loan repayments don’t increase.

An example of Progressive Payment Scheme (PPS)

Below is an example of a PPS schedule.

Disclaimer

Every development has a different timeline and depending on which phase you bought the condo or EC, the above timeline serves only as a general guide.

This is also assuming you get the full 75% home loan. 

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The post SGPD 60-Sec Read: What is Progressive Payment Scheme for new launch condo or EC? first appeared on SGPD.

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