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Mortgage, insurance and tax solutions for France

French Mortgage Payment Protection Insurance: switch and save !

Mortgage protection insurance is mandatory when taking out a mortgage in France. The majority of French lenders require that borrowers are insured for the amount of the loan through a life insurance policy which is assigned to the lender.
A new law "loi Hamon" coming into effect on July 28th, 2014 aims to introduce more competition in the very lucrative €9bn Mortgage Protection Insurance market. The new bill effectively reduces barriers to switching and oblige lenders to accept third party Mortgage Protection Insurance for up to 12 months after the mortgage start date.
With mortgage insurance premiums accounting for as much as 25% of the total borrowing costs, it pays to shop around and switch. French banks offer block insurance policies which tend not to be as competitive for younger or senior borrowers. A qualified and regulated mortgage and insurance broker will be able to provide you with tailored advice.

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