Funds disbursement of your mortgage loan
Anyone of us who has gone through the trouble of building a new house or renovating on a mortgage will know just how painful it can be trying to get to the bank within its opening hours while juggling work, kids, the construction…, all to end up late because of traffic or realise we forgot some paper on the kitchen table. Funds disbursement attempts to change all of that.
How does it work?
The function can be accessed through the payment menu of your My ING app and will start a step-by-step procedure to pay your purchases or supplier. It is no more complicated than a usual transfer.
If you don't have the My ING app yet, please contact your relationship manager who will help you.
You will be required to join the bill or justification document you would normally have to bring to the bank.
The good news?
A picture is enough. No more scans or papers required anymore. The sole purpose is to make the process easier, faster and more efficient for users, so why should it be any more convoluted?
Most of the time, your paiement will be processed in a few minutes. Sometimes, it will be sent in for approval and released within a span of two business days – responsible finance requires checks!
Rest assured though, it is just as safe as before if not more, only the processes have been adapted to empower you to stay a step ahead. Bye bye paper!
Often you hear people say: “Anyway, until I have paid off my home loan it’s the bank who owns my house”. But is it true?
It is always the same question that every one of us is asking before signing a home loan with his bank. To gain a more objective overview, let’s analyse them one by one with their respective advantages and disadvantages.
The rate remains fixed for a pre-defined period and, at the end of the period, is subject to a revision. The pre-defined period can vary from one bank to another but is generally 3, 5 or 10 years.
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