This Belgravia Ace payment calculator sets out what falls due and when. One thing to be clear about before you use it: Belgravia Ace has obtained Temporary Occupation Permit, so the progressive payment schedule that applies to buildings under construction does not apply here. A completed development follows a much shorter and front-loaded schedule, and the calculator below reflects that.
Completed-project schedule under the Housing Developers Rules. Indicative only; the Sale and Purchase Agreement governs.
Because the houses are built and the project has obtained TOP, payment compresses into four stages rather than the eight or nine spread across a construction period. Five per cent is payable on the Option to Purchase. Eighty per cent falls due within eight weeks of the Option date. Thirteen per cent is payable on the Certificate of Statutory Completion, within fourteen days of notice. The final two per cent is payable on completion.
The practical consequence is timing, not total. The same price is paid either way, but at Belgravia Ace the bulk of it is due within roughly two months of committing rather than over three or four years. Financing needs to be arranged in advance rather than drawn down progressively.
The progressive payment scheme exists to match payment to construction milestones — foundation, reinforced concrete framework, brick walls, roofing, and so on. Those stages are complete here, so there is nothing left to stage against. Buyers comparing Belgravia Ace to an uncompleted launch should note that the deferred cash flow of a progressive schedule is not available, while the four-year construction wait and the completion risk that come with it are also absent. The payment scheme page sets out the schedule in full, and new launch versus resale covers the wider comparison.
The calculator splits the price into the loan portion and the balance you fund yourself. How that balance divides between cash and CPF Ordinary Account savings depends on your LTV band and CPF rules: at 75% LTV a minimum of 5% of the price must be paid in cash, and at 45% or 35% the minimum cash component rises to 25%. CPF Ordinary Account monies may be used towards the remainder for a residential purchase, subject to CPF Board rules and your available balance.
Stamp duty is payable separately and cannot be met from the loan — use the stamp duty calculator for that figure, and check borrowing capacity with the TDSR calculator.
Tell us your buyer profile and we will set out the stamp duty, loan and cash position for the specific house you are considering.