UNDER the FundMyHome (FMH) scheme, the 20% that a buyer pays towards the house price is put into a trust in order to generate the investors’ 5% annual yield. Two banks and others fund the balance 80%. Developers get this 80% pronto.
If the property, independently valued, rises on the fifth year, the developer gets his balance 20%. From the developer’s point of view, FMH helps to reduce unsold units.
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