Guide
Financing The Serra Residences
Loan-to-value limits, stamp duties and how progressive payment works toward an estimated Q4 2030 TOP.
With an estimated TOP of Q4 2030, buying now means financing a purchase about four years ahead of completion. That changes how the numbers work compared with a resale purchase.
Loan-to-value limits
For most buyers taking a bank loan on their first residential property, the maximum Loan-to-Value is up to 75% of the purchase price or valuation, whichever is lower. That means a minimum 25% down payment in cash and CPF Ordinary Account, with a minimum 5% in cash. If you already hold a home loan, your limit on a further property is lower, which materially changes the down payment.
Stamp duties to plan for
Buyer’s Stamp Duty applies on a tiered scale based on price. Additional Buyer’s Stamp Duty depends on your residency status and how many residential properties you own. Both are payable upfront, well before TOP, so they belong in your initial cash planning rather than your eventual mortgage.
How progressive payment changes your loan
Your bank loan is drawn down in stages against construction milestones, through to TOP and the Certificate of Statutory Completion about a year after. Monthly instalments during construction are based on the amount drawn so far, so your outlay before TOP is typically lower than after full disbursement.
Planning for a four-year runway
Consider getting an In-Principle Approval now and revisiting your position periodically. A change in income or commitments part-way through won’t undo payments already made, but it could affect your ability to service the loan at full drawdown.
Frequently asked
How much can I borrow?
It depends on your Total Debt Servicing Ratio, any existing property loans, which lower your Loan-to-Value limit on a further purchase, and the bank’s credit assessment. We can connect you with a mortgage broker to run an In-Principle Approval against your numbers.
What stamp duties apply to a freehold unit like this?
The same Buyer’s Stamp Duty and Additional Buyer’s Stamp Duty rules apply regardless of tenure.
Can foreigners buy at The Serra Residences?
Yes, condominium units are open to foreign buyers, subject to the prevailing Additional Buyer’s Stamp Duty rate for foreigners, which is substantially higher than for citizens or PRs.
Work through your numbers
Tell us your budget, and we will go through the down payment and monthly figures for the homes that fit.
We usually reply within the day.