QUOTE(cawan @ Mar 2 2022, 03:21 PM)
helo, want to ask regard housing loan progress payment schedules.
from start sign in spa, loan approval, how long will i be start charge for this kind of payment?
is it correct that buyer with late spa sign, house near complete, no progress payment charge? full payment on key handover?
If follow HDA Schedule G & H, the following should be the phasesfrom start sign in spa, loan approval, how long will i be start charge for this kind of payment?
is it correct that buyer with late spa sign, house near complete, no progress payment charge? full payment on key handover?
1) Upon signing the SPA = 10%
2) During Construction = 65%
3) Upon Vacant Possession = 25%
For the item 2), the 65% progress will be breakdown into further details as per stated in the Schedule G or H, depending on the template use by the developer in the SPA document. Upon the certificate of the Architect, the bank will release the payment accordingly. The construction period will normally takes 18 months to 36 months depending on the nature of the property you are buying. If dwelling unit, it will be within 18-24 months. If high rise, it would be within 24~36 months.

This post has been edited by nihility: Mar 4 2022, 01:44 PM
Mar 2 2022, 03:40 PM

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