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Mortgage, insurance and tax solutions for France

How to save 10% on the cost of a French mortgage ?

Mortgage Protection Insurance is mandatory when taking out a new French mortgage.
Non-resident borrowers are normally required to take out a life and disability insurance cover. In the event of a claim, mortgage instalments or the outstanding capital of the French mortgage will be paid by the insurance company. Mortgage insurance policies must be assigned to the lender.

In a recent study, Les Echos, a French leading quality newspaper, has reported that borrowers can achieve significant savings by choosing a mortgage insurance cover other than the lender's own block policy.
The analysis conducted by the newspaper shows that a 35 year old couple of non-smokers can achieve savings of up to €19,480 on the cost of a 20 year mortgage.
Independent insurance companies such as AFI-ESCA, APRIL, METLIFE or Mutlog offer competitive products tailored to the needs of non-resident individuals.
The article concludes that borrowers should compare policies both in terms of cover and pricing before selecting the lender's in-house mortgage insurance cover.
An authorised insurance and mortgage broker will be able to advise borrowers and assist them with the sourcing of the most appropriate mortgage protection insurance.

Feel free to contact us for further information.

http://www.lesechos.fr/10/01/2014/LesEchos/21602-136-ECH_assurance-emprunteur---comment-negocier-au-mieux.htm