Under the new « Lagarde Reform » home buyers will be able to choose their life insurance company when applying for a French mortgage.

The Reform of Consumer Credit in France has a number of provisions notably impacting the regulations on mortgages for individual subjects (Art.21).These changes come into force as from September 1st, 2010.

In summary the changes are:

  • The borrower will be able to impose a life insurance of his choice, provided it has a coverage level at least “equivalent” in terms of coverage to the group insurance cover of the lender.
  • The lender will have to inform the borrower of this possibility, by inserting a specific reference in the loan offer.
  • If the life insurance offered by the borrower is considered equivalent to that of the group insurance cover, the lender will then have to accept this life insurance, in place of the group life insurance
  • If a life insurance policy is a condition to the granting of the loan, the loan offer will have to include, in the calculation of the TEG, the cost of the life insurance offered by the customer.

The new reform will allow clients to be able to get more competitive life insurance prices and in some cases save them money.

We would be delighted to assist you with your mortgage requirements, please contact us for more information contact@stoneandliving.com

NEW VILLAS

389 700€

NEW VILLAS

Le Paradou (Provence) View

Next to Megeve

183 000€

Next to Megeve

Sallanches View

SKI-IN SKI-OUT

187 000€

SKI-IN SKI-OUT

Les Menuires View