The information on this page is for the purchase of North Gaia. Read more about the project here.
Residential Loan Information for North Gaia
| First Loan | Second Loan | Third Loan | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Loan Tenure | Up to 30 years | 31-35 years | Up to 30 years | 31-35 years | Up to 30 years | 31-35 years | |||
| Age | Age used to calculate loan tenure, will be based on income-weighted | ||||||||
| Up to 65 | Up to 70-75 | Up to 70-75 | Up to 65 | Up to 70-75 | Up to 70-75 | Up to 65 | Up to 70-75 | Up to 70-75 | |
| Maximum LTV Limit | 75% | 55% | 55% | 45% | 25% | 25% | 35% | 15% | 15% |
| 20% (non-individuals) | |||||||||
| Minimum Cash Downpayment | 5% | 10% | 10% | 25% | 25% | 25% | 25% | 25% | 25% |
| Guarantors / Co-borrowers | All Co-borrowers must be mortgagors. Guarantors must be co-borrowers if the latter did not pass the TDSR criteria |
||||||||
| Mortgage Servicing Ratio | 30% | ||||||||
| Total Debt Servicing Ratio | 55% | ||||||||
| Stress Test Interest Rate | 3.5% | ||||||||
Normal Payment Scheme (NPS)
| Stage | Payment Under a Standard Payment Scheme (% of Purchase Price) |
|---|---|
| Upon the grant of Option to Purchase | 5% (Booking Fee) |
| Upon signing of the Sale & Purchase Agreement or within 8 weeks from the Option date | 20% less Booking Fee |
| Completion of Foundation Work | 10% |
| Completion of Reinforced Concrete Framework of Unit | 10% |
| Completion of partition walls of unit | 5% |
| Completion of roofing/ceiling of unit | 5% |
| Completion of door sub-frames/ door frames, window frames, electrical wiring, internal plastering and plumbing of unit | 5% |
| Completion Car park, roads and drains serving the housing project | 5% |
| Notice of Vacant Possession (TOP) | 25% |
| On Completion date | 15% |
Buyer’s Stamp Duty
| Purchase Price or Market Value of the Property | BSD Rates for Residential Properties | BSD Rates for Non-Residential Properties |
|---|---|---|
| First $180,000 | 1% | 1% |
| Next $180,000 | 2% | 2% |
| Next $640,000 | 3% | 3% |
| Remaining Amount | 4% |
Additional Buyer’s Stamp Duty
| Nationality | 1st Property | 2nd Property | 3rd Property |
|---|---|---|---|
| Singapore Citizens | N.A | 17% | 25% |
| Permanent Residents | 5% | 25% | 30% |
| Foreigners | 30% | 30% | 30% |
| Entities / Companies | 35% | 35% | 35% |
Register Your Interest
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North Gaia Showflat Now Open for Viewing
Viewing by appointments only. Please call 6100 2828 for more information.