Paid 10%, then progressive time only pay 10% of interest instead of 90%.
another 80% only start installment when complete.

Hard selling.

Says borrow 90% loan. During construction period, only need to pay interest for the (S&P price x 10%), the balance (S&P price x 80%) interest to be absorbed by developer? Is this the case?

Isn't it's like last time 5/95 or 10/90 system?
Or indirectly this is DIBS ?

I think theorically is like that. Indirectly also like dibs. But this still need pay progressive interest of 10% of S&P price

I see... given the interest is only on the relatively small sum ie 10% of S&P, this scheme seems to me carries 90% DNA of DIBS. If loan is 80%, it means no interest servicing at all by the buyer during construction period which become 100% DIBS DNA. Just wondering whether any regulatory compliant issue

IJM rich. Maybe the 80% loan developer do not claims first. Until complete only claims. Means concept is similar build first sell later.

If this is the case it does really help the buyer to own a house in BR Those who want to flip still better think twice if can't hold.

Aiya.. Actually periwinkle going to vp in another 8 months..you sign SnP today .. First drawdown will happen more or less 3-4 months down the road... Progressive interest max is about 80% before VP.. You actually save interest for less than 60% of SnP price for few months only.. Most probably around 10k there.. So they increase the price by 15 k and offer this promotion to you (instead of giving you rebate on your downpayment)... More like a marketing gimmick to me

Dibs is against the law

Only for Periwinkle? I see... thought incl other like Wisteria too.

Yes true the house already more than half way through
IJM even with all the freebies like signature kitchen or free MOT, they already included it in the price hike. It's like shooting at their own leg again

Yes only periwinkle. Different phase different package.
perennia free 30k voucher for kitchen renovation.
wisteria next 2 week I think will increase 20k and price start from 908k for 23*75

That should be the case.

IJM collect 10% upon S&P, claim another 10% on next billing while remaining 80% only upon completion.

If no price increase, then a bit save for buyers but not much diff to cash buyers. How good if this is applicable to new projects or pending 24-36 mths completion.

Look like more and more ......developer...... creative marketing. ..... defer payment scheme.

I've received a letter for the last drawdown 5% for phase 2. Next Month will get the key. My sale agent told me

The really the last drawdown 5% before 12.5% when we get the key

Do I need to get permit if I just wanna wall up the back yard?

I guess you are among the earliest buyer. My progressive payment is 70% now as of now, probably will get it end of this year or early next year. Congrats!

But I checked the sales they will start distributing the key from Aug. also by batch like phase 1. U should get it ard Aug or Sept also I thk