PHOTO: The Reed Property Group offered five-year deferments for 20 units to close out its Belise development which has been completed in Bowen Hills.

AN AFTERPAY-style “lay-by” scheme could be the next big thing in housing, with one developer offering 20 apartments where you move in now and pay in five years’ time.

Reed Property Group director Richard Ash told The Courier-Mail that they took the approach to close out the last 20 units in his firm’s 228-unit Belise development in Brisbane’s Bowen Hills.

“What we’re doing is a bit unique in that we’re offering deferred settlement,” he said.

“We will give you access – they can certainly pay now, make no mistake – but we’re offering people the opportunity to defer for five years.”