Remember that since the start of the year two thousand and eighteen, all people who have taken out borrower insurance to cover a mortgage against life risks have the possibility of changing mortgage insurance . Depending on the case, the termination of a credit insurance contract by another can generate up to thirty thousand us dollars in gains by saving up to 30 K €!
How to work on your mortgage?
Among the projects of a lifetime, becoming the full owner of your property is one of the objectives. Home ownership is mainly financed by setting up a mortgage. So, you have to know how to ride the wave of declining interest rates to save thousands of dollars on the cost of borrowed money .
From renegotiation to renegotiation, the cost of your mortgage can be reduced by two! The second element that is indirectly part of the real estate financing plan is credit insurance coverage. Changing home loan insurance can save you small monthly amounts that add up to thousands of us dollars over the life of the loan .
Change mortgage insurance
So, the first question that comes to mind is " Why should we change home loan insurance?" ". So, it should be noted that the group insurance contracts offered by banking establishments are two to three more expensive. Indeed, the subscription of a borrower insurance policy is cheaper when it is taken out directly by the borrower (s) from the insurer.
Because you should know that the borrower insurance offered by the bank is identical to the level of guarantees assumed, but different when at its financial cost. Your banker collects high margins on the amount of your borrower insurance payments.
There was a time when banks made it compulsory to subscribe to their group contract, without the possibility of termination. This is why the Lagarde law of July 1, two thousand and ten stopped this monopoly by giving borrowers the right to take out their borrower insurance with the insurance company of their choice! The Hamon law reinforced this system by giving borrowers the possibility of terminating their group insurance contract during the first twelve months of mortgage amortization.
So this is not over with novelties at the beginning of 2018 which offer the possibility to all borrowers to change mortgage insurance on each anniversary date of the mortgage.
The borrower insurance delegation
The borrower insurance contract in delegation is always more advantageous than the bank group contract. As mentioned in the aforementioned paragraph, banks marginally marginally charge up to fifty percent. On the other hand, a borrower insurance delegation makes it possible to subscribe essentially to the necessary guarantees. The contract is tailor-made to the needs of the subscriber (s).
For example, a smoker who stops smoking will be able to readjust his contract as soon as possible with a borrower insurance delegation. therefore, it makes it possible to pay less, whereas a group contract does not allow readjustment according to the medical condition of the borrowers. Delegated contracts even make it possible to maintain the same coverage in the event of deterioration in health.
Also, the borrower insurance delegation is the opportunity to obtain better guarantees at the same price as group insurance, or even more attractive. So how do you get an offer of delegation in order to be able to change mortgage insurance? The procedures can be carried out by the borrowers themselves. However, it is strongly recommended that you hire an insurance broker. It is a true professional who determines the best borrower insurance coverage according to the expectations and needs of the policyholder (s).