Payment Scheme
Normal Payment Schedule (HDA)
Also known as Progressive Payment Schedule, allows you to service your loan interest via monthly instalments progressively stage by stage as the property is being built.
| SCHEDULE OF PAYMENT OF PURCHASE PRICE | |
| 1. Booking, Immediately upon the signing of this Agreement | 10% |
| 2. Within 21 working days after receipt by the Purchaser of Vendors written notice of the completion of | |
| a) The work below ground level of the said Building comprising the said Parcel including foundation of the said Building | 10% |
| b) The structural framework of the said Parcel | 15% |
| c) The walls of the said Parcel with door and window frames placed in position | 10% |
| d) The roofing, electrical wiring, plumbing (without fittings), gas piping (if any) and internal telephone trunking and cabling to the said Parcel | 10% |
| e) The internal and external finishes of the said Parcel including the wall finishes | 10% |
| f) The sewerage works serving the said Buildings | 5% |
| g) The drains serving the said Buildings | 2.5% |
| h) The roads serving the said Buildings | 2.5% |
| 3. On the date the Purchaser takes vacant possession of the said Parcel, with water and electricity supply ready for connection | 17.5% |
| 4. On the date the Purchaser takes vacant possession of the said Parcel as in item 3 and to be held by the Vendor’s solicitors as stake holders forpayment to the Vendor within 21 working days after receipt by the Purchaser of the written confirmation of the Propreitor/vendor submission to and acceptance by auth | 2.5% |
| 5. On the date the Purchaser takes vacant possession of the said Parcel as in item 3 and to be held by developer’s solicitor as stakeholder for payment to the Vendor as follow : | |
| a) Two point five per centum (2.5%) at the expiry of the period of eight (8) months after the date the Purchaser takes vacant possession of the said Parcel ; and | 2.5% |
| b) Two point five per centum (2.5%) at the expiry of the period of twenty four (24) months after the date the Purchaser takes vacant possession of the said Parcel | 2.5% |
| Total | 100% |
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