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Progressive Payment Scheme Singapore

The Progressive Payment Scheme Singapore

  • We’ll try to give more information on the following topics,
  • What is exactly Progressive Payment Scheme Singapore?
  • How Does This Work?
  • Why We Should Care About It?

Let’s Just Understand The Progressive Payment Scheme Singapore

A progressive payment scheme singapore is a service provider and the customer offered to buyers making a purchase in an unfinished residential development. Instead of paying a full payment upfront, it is preferable to acquire your new house using this payment method.

The Progressive Payment Scheme Singapore is designed so that the customer pays for a home based on the stage of development. As a result, if construction is delayed, your payment schedule will be moved back, and when each stage of the project is finished, the developers will send your lawyer a notification alerting you that you must make your progress payment for that stage. Depending on your financing agreements, you may be required to make the payment in cash.

The money must be received by the developer within 14 days of receiving the developer’s notice, otherwise late payment penalties will apply. You can check further details from the Google if you have any doubts and want to clear theme before taking any decision.

The customer will be needed to meet and finish the payment step at the time of purchase, depending on the time of purchase.

You can check the Housing Loan Information In Singapore