It represents around 25% of the total cost of all property loans - or even beyond depending on the age of the subscriber or the extent of the coverage chosen - and yet, it is not compulsory.
Taking out borrower insurance is in fact not required by law, but individuals will not find any bank likely to grant them credit without this guarantee.
If you cannot do without it, it is possible to moderate its cost.
Since September 1, 2022 and the Lemoine law, competition has become easier and borrowers are no longer captive to the contract offered by the establishment which grants the credit.
They can cancel quickly in favor of another insurer.
A first assessment of the text has just been published, and the conclusions of the Financial Sector Advisory Committee (CCSF) are rather positive:
“Substitution requests from banking networks increased by more than 80% between 2021 and the first half of 2023 ".
For a realization which is still being done with more or less ease, insurers temper... the banks are still dragging their feet a little, discouraging individuals.
The gains, however, are far from negligible.
From around 2000 euros to several tens of thousands of euros depending on insurance brokers.
If you haven't yet taken the plunge, we'll explain how to do it.
1- Cancel at any time
To quickly obtain their property loan, borrowers most of the time have no other choice than to take out the insurance contract offered by the lending institution
“even if it means
changing insurer…
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