Loan Insurance: Is it possible to substitute for the borrower guarantee?

Borrowers have the freedom to choose their loan insurance. Indeed, since the guarantee level of the insurance delegation contract is equivalent, the banks can not oppose it!

The challenges of substituting a loan insurance policy

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Cheap Loan Insurance can offer you insurance policies to replace the current one. Being free to choose your loan insurance, you can get a contract cheaper and more efficient than the one you get. If you are young, in good health and have a good situation, the loan guarantee offered to you by Fagin.fr can make you save several thousand euros on the cost of your mortgage against your contract current loan insurance.

How to make a real estate loan insurance substitution

How to make a real estate loan insurance substitution

The first deduction of your new loan insurance contribution will begin after the termination of your current contract. You will not have any overlap of contributions.

Here are some tips to properly proceed with a loan insurance substitution:

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  • Never terminate your current loan insurance policy without officially benefiting from the new loan insurance policy.
  • Bring to the bank guarantees at least equivalent to those of the current loan insurance contract.
  • Inform the bank of the substitution made to cancel the current insurance (according to the terms of the contract).
  • In the case where your current contract has a cancellation date (anniversary date of the contract), you can only terminate it on that date with a minimum notice of 2 months.

Why continue to pay so much when you can reduce your insurance costs? Do not wait any longer, save now by substituting your loan insurance with Cheap Loan Insurance!