Until now, it was necessary to complete a health questionnaire before taking out a mortgage. This questionnaire meant that people who were ill or had been ill had to take out loans at high rates, due to additional premiums.

Abolition of the health questionnaire for certain loans

The health questionnaire will be abolished for home loans of less than €200,000 per person (i.e. €400,000 if borrowed by two people) with a maturity date before the borrower's 60th birthday.

MP Patricia Lemoine (AGIR), with the support of the government, wants "fairer, simpler and more transparent access to the loan insurance market".

The freedom to change loan insurance at any time 

The possibility of changing loan insurance at any time, free of charge, and not just on the anniversary date.

More stringent obligations to inform policyholders of their right to cancel. Insurers will be obliged to inform policyholders each year of the existence of this right and how to exercise it. The aim is to make the loan insurance market more fluid. 

The liberalisation of the market should offset the increases. According to the Magnolia home loan insurance comparison service, you can save an average of €15,000 over the lifetime of your loan. 

The aim is to introduce more competition into the banking sector, which is in a strong position in this area, and into the insurance sector, in order to lower the bill for borrowers.

Extension of the right to be forgotten 

The right to be forgotten now applies to people who have been cured for 5 years rather than 10 years, for former cancer patients as well as hepatitis C sufferers, thus facilitating access to property for the most vulnerable people.

This reform, which strengthens "respect for consumer rights", is also a purchasing power measure.

Now that the Loi Lemoine has been definitively adopted, its provisions will come into force on 1 June 2022 for new contracts and on 1 September 2022 for existing contracts. From this autumn onwards, all French borrowers will be able to change their bank loan insurance at any time by taking advantage of the competition and regaining thousands of euros in purchasing power.

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