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Products : Stage Payments
In some cases, when you purchase a new property, you will be required to fund the construction of the off-plan property.
ACAP’s Stage Payments mortgage can help you do this.
The payments are typically due in stages as follows:
- Amount due at contract: From 0-20%
- This initial amount is usually due from the purchaser at execution of the sales contract
When your builder requires you to make scheduled payments during the construction and completion of the property, ACAP’s Stage Payment mortgage will ensure you meet these payments.
Example
-
0-20% due at start of construction
This amount will be paid by our Stage Payment mortgage
-
0-20% due when construction progresses to agreed point
This amount will be paid by our Stage Payment mortgage
-
Additional 0-40%
This will be paid by our Stage Payment mortgage upon transfer of dee.
Please note that structure and amounts of payments will vary according to agreed terms by the developer and the bank.