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 at The Serra Residences now means financing a purchase roughly four years ahead of completion. That changes how the numbers work compared to a resale purchase. Here's the shape of it.
For most buyers taking a bank loan on their first residential property, the maximum Loan-to-Value (LTV) is up to 75% of the purchase price or valuation, whichever is lower — a minimum 25% down payment, part cash and part CPF Ordinary Account, subject to the minimum cash component (currently 5%). If you already hold an existing home loan, your LTV limit on a second or subsequent property is lower, which materially changes the down payment required. Worth checking against your specific situation before committing to a unit type.
Buyer's Stamp Duty (BSD) applies on a tiered scale based on price, and Additional Buyer's Stamp Duty (ABSD) depends on your residency status and how many residential properties you already own. These are payable upfront on exercising the Option to Purchase — well before TOP — so they need to sit in your initial cash planning rather than your eventual mortgage.
Because the project is under construction, your bank loan isn't disbursed as one lump sum. It's drawn down progressively against construction milestones, through to TOP (currently estimated Q4 2030) and the Certificate of Statutory Completion around a year after. Your monthly instalments during construction are typically interest-only on the amount drawn so far, stepping up to full principal-and-interest repayment only once the loan is fully disbursed — so your actual monthly outlay before TOP is lower than it will be after.
Given the project's estimated Q4 2030 completion is further out than many new launches, it's worth getting an In-Principle Approval now and revisiting your financing position periodically rather than assuming today's numbers will hold unchanged through to the final payment milestone. A change in income or other commitments partway through won't undo payments already made, but it could affect your ability to service the loan at full drawdown.
It depends on your Total Debt Servicing Ratio (TDSR), any existing property loans (which lower your Loan-to-Value limit on a subsequent purchase), and the bank's credit assessment. We can connect you with a mortgage broker to run an In-Principle Approval against your actual numbers.
The same Buyer's Stamp Duty and Additional Buyer's Stamp Duty rules apply regardless of tenure — freehold doesn't change the duty calculation, only the underlying value you're paying duty on.
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.
WhatsApp us and we'll help you work through the down payment and monthly numbers.
Chat with us on WhatsApp →