Lucerne Grand Payment Scheme
Also referred to as the Progressive Payment Scheme, this method allows you to repay your home loan in monthly instalments that increase progressively at each stage of the property’s construction.
| Stage | Key Payment Milestones | % of Purchase Price | Timeline | Source of Fund |
| 1 | Booking & Obtaining Option To Purchase | 5% | Day 1 | Cash |
| 2 | Buyer to engage a solicitor Buyer to select Mortgage Loan | (Lawyer Fee ~$3,000) (Mortgage Stamp Fee ~$500) | ASAP | Cash or CPF OA |
| 3 | Buyer’s Stamp Duty (BSD), Additional Buyer’s Stamp Duty (ABSD) | Based on property purchase price | Within two (2) weeks of signing S&P | Cash or CPF OA |
| 4 | Downpayment | 15% | Within eight (8) weeks from the Date of Option | Cash or CPF OA |
| 5 | Completion of Foundation Work | 10% | 6 – 9 months from launch | 5% Cash or CPF OA 5% Bank Loan |
| 6 | Completion of Reinforced Concrete | 10% | 6 – 9 months later | Cash/CPF/Bank Loan |
| 7 | Completion of Brick Wall | 5% | 3 – 6 months later | Cash/CPF/Bank Loan |
| 8 | Completion of Ceiling / Roofing | 5% | 3 – 6 months later | Cash/CPF/Bank Loan |
| 9 | Completion of Door, Window Frames is in position, and electrical wiring, plumbing, and internal plastering are completed. | 5% | 3 – 6 months later | Cash/CPF/Bank Loan |
| 10 | Completion of Car Parks, Roads, and Drains | 5% | 3 – 6 months later | Cash/CPF/Bank Loan |
| 11 | Upon obtaining Temporary Occupation Permit (TOP) | 25% | TOP Date | Cash/CPF/Bank Loan |
| 12 | Based on the property purchase price | 15% | 10 – 15 months from TOP | Cash/CPF/Bank Loan |
Buyer’s Stamp Duty (BSD)
| Purchase Price or Market Value of the Property | BSD Rates |
| First $180,000 | 1% |
| Next $180,000 | 2% |
| Next $640,000 | 3% |
| Next $500,000 | 4% |
| Next $1,500,000 | 5% |
| In excess of $3,000,000 | 6% |
Additional Buyer’s Stamp Duty (BSD)
| Nationality | 1st Property | 2nd Property | 3rd Property |
| Singapore Citizens | – | 20% | 30% |
| Permanent Residents | 5% | 30% | 35% |
| Foreigners | 60% | 60% | 60% |
| Entities / Companies | 65% | 65% | 65% |
Residential Home Loan Regulations by Monetary Authority of Singapore (MAS)
| First Loan Tenure | > 30 Years | > 30 Years | 31 – 35 Years |
| Age | > Years Old | 70 – 75 Years Old | 70 – 75 Years Old |
| Max. LTV Limit | 75% | 55% | 55% |
| Min. Cash Downpayment | 5% | 10% | 10% |
| Second Loan Tenure | > 30 Years | > 30 Years | 31 – 35 Years |
| Age | > 65 Years Old | 70 – 75 Years Old | 70 – 75 Years Old |
| Max. LTV Limit | 45% | 25% | 25% |
| Min. Cash Downpayment | 25% | 25% | 25% |
| Third Loan Tenure | > 30 Years | > 30 Years | 31 – 35 Years |
| Age | Up to 65 Years Old | 70 – 75 Years Old | 70 – 75 Years Old |
| Max. LTV Limit | 35% | 15% | 15% |
| Min. Cash | 25% | 25% | 25% |
Additional Information
- Total Debt Servicing Ratio (TDSR): 55%
- Stress Test Interest Rate: 4%
- Age used to calculate loan tenure will be based on income-weighted.
- All Co-borrowers must be mortgagors. Guarantors must be co-borrowers if the latter did not pass the TDSR criteria