Borrower’s insurance: why it’s getting easier to save money

A real breath of fresh air. Since the beginning of September, people with mortgages have had the opportunity to change their loan insurance agreement (the famous death guarantee) at any time, without having to wait for the anniversary of the subscription, as was the case until now. . In an interview with “Grand rendez-vous de l’immobilier”, Olivier Le Gallo, director of the broker Magnolia, explains that this relaxation leads to a boom in inquiries.

Since September, every borrower can thus compete and offer his bank a new insurance contract at any time. A registered letter must be sent to his institution, which cannot refuse the new insurance contract as long as it provides guarantees at least equivalent to the original one. At the same time as this liberalization, the information that the borrower receives when entering into a contract is also reinforced: the right to compete at any time is systematically reminded to the borrower.

This liberalization is a real weapon against inflation, welcomes the head of Magnolia. In fact, as shown by the simulations carried out by Capital, the savings can reach several thousand euros, depending on the profiles.

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It should also be noted that the other major advance of the Lemoine Law concerns the abolition of the medical questionnaire for loans less than or equal to 200,000 euros (provided they are repaid before the age of 60). This is very good news for customers with poor health, for whom companies have so far presented either refusal to insure or high premiums. Find all the explanations by Olivier Le Gallo in the video above.