Purchase and Loan Property

Purchase and Loan Property


Singapore Property Loan-To-Value

home loan structure
  1. Maximum tenure for all residential property is capped at 35 years.
  2. For taking up a loan of 30 years or less and loan tenure do not exceed the age of 65,
    • loan up to 80% of the property value if you do not have any existing residential loanor
    • loan up to 50% of the property value if you have an existing residential loanor
    • loan up to 40% of the property value if you have 2 existing residential loan
  3. For taking up a loan of more than 30 years or extends past 65 years old, you can either
    • loan up to 60% of the property value if you do not have an existing residential loanor
    • loan up to 30% of property value if you have an existing residential loanor
    • loan up to 20% of property value if you have 2 existing residential loan
  4. For Non-individual is capped at 20% LTV

Purchase of Singapore New Property

Timeline for Purchasing of Singapore New Property
TimelineSales ProcedurePayment
Booking DayReceipt of Option to Purchase5% of Property Value
Engage a Lawyer Check Approval for Loan with Banker
Within 2 weeksDeveloper will send Sales & Purchase Agreement (S&P) to Purchaser or Purchaser’s Lawyer
Within 3 weeks upon receiving S&PPurchaser to Sign S&P at their Law Firm
Within 2 weeks upon signing S&PPurchaser to pay the All Stamp Duty and/or Additional Buyer Stamp Duties (ABSD)Stamp Duty (3% - $5,400) + ABSD
8 weeks upon Receipt of Option to Purchase (OTP)Purchaser to pay 15% + Progressive Payment15% of Property Value
Progressive Schedule of Payment for Singapore New Property
Order of PaymentProgress of PaymentPercentage of Payment
1st Payment1. On obtaining Option to Purchase (OTP) 2. On signing of Agreement for Sale & Purchase (S&P)5% 15%
2nd Payment (Est. 6 - 9 months)On completion of foundation work10%
3rd Payment (Est. 6 - 9 months)On completion of reinforced concrete framework10%
4th Payment (Est. 3 - 6 months)On completion of brick walls5%
5th Payment (Est. 3 - 6 months)On completion of ceiling/roofing5%
6th Payment (Est. 3 - 6 months)On completion of doors & window frames are in position, the electrical wiring (without fittings) & plumbing & internal plastering5%
7th Payment (Est. 3 - 6 months)On completion of carpark, roads and drains serving the housing project5%
8th Payment (Est. 3 - 6 months)On production of the Temporary Occupation Permit (TOP) and the Architect’s Certificate of Completion25%
9th Payment (Est 3 months - 1 year)1.Upon completion of the Sale & Purchase 2.Upon production of the Certificate of Statutory Completion (CSC) 3.On the expiry of 12 months from the date of notice to take vacant possession2% 8% 5%