Drawing down a mortgage loan in stages
If you’ve taken out a mortgage loan for building or renovating your home, you’ll want to be able to pay the numerous invoices involved in the works as soon as you can. But did you know that this can be quickly arranged by uploading these invoices in KBC Mobile or in KBC Touch?
Once approved, you can either:
- Get KBC to pay the supplier’s invoice automatically, or
- Have the amount paid into your account so you can pay the invoice yourself
Kate can also help you draw down your mortgage loan
Just tell Kate: ‘I want to draw down my mortgage loan’. You can find your digital assistant in the top-right corner of KBC Mobile.
Which invoices are eligible?
- The invoice must be made out in the name of one or all of the borrowers.
- The descriptions on the invoice must correspond with the purpose of the home loan you've taken out.
- The invoice may not have already been paid using your own funds.
- If an integrated environmental permit (former building permit) is required for the works, send it to us first.
- Order forms or quotes are not eligible documents.
If you’ve taken out a home loan that still entitles you to a tax benefit, you won’t be able to use your home loan to pay for certain works (such as demolition and infrastructure work) or various other costs you incur (including the cost of an EPB, EPC or stability study, interior architect’s fees and lighting engineer’s fees). Contact us for more information.
How does it work?
- Log in to KBC Mobile, go to Your home loan and tap Manage,
or log in to KBC Touch, select Home and then your home loan
- Tap New drawdown
- Enter the amount you need (up to the full amount of the invoice)
- Add your invoice
- Once approved, you can either:
- Get KBC to pay the supplier’s invoice automatically, or
- Have the amount paid into your account so you can pay the invoice yourself
- Sign your application digitally
- We’ll check your application by the next banking day (if approved, we’ll pay the invoice or transfer the relevant amount to the account used for repaying your home loan)
