Renegotiate your mortgage loan insurance when refinancing
Take advantage of a refinance to change loan insurance!
Perhaps you have already thought of buying a loan to consolidate all your credits and thus lighten the amount of your monthly payments with a more attractive rate of borrowing? If this is the case, be aware that during your refinancing, you can also reduce your expenses by renegotiating your loan insurance.
The free choice of your loan insurance
Since the Lagarde law came into force on September 1, 2010, banks and other credit institutions can no longer impose their home insurance. Borrowers have the opportunity to freely negotiate their loan insurance by comparing different offers and opt for the cheapest loan insurance that will allow them to save on the total cost of their credit. If your outstanding credits are currently secured by your bank’s group insurance, you can take advantage of your credit redemption refinancing to renegotiate your loan insurance and realize even more savings!
Renegotiate loan insurance in progress
Underwritten by the bank, group insurance is a group insurance that guarantees a loan for its entire duration. To cancel this insurance, you must take into account the cancellation and transfer clauses indicated in your contract. By redeeming credits, you only need to inform the institution responsible for your refinancing of your wish to set up the individual insurance of your choice.
To renegotiate individual loan insurance
To cancel an individual insurance, you must take into account the anniversary date of the contract by sending your insurer a registered letter with acknowledgment of receipt within the indicated notice period. As to cancel a group insurance, as part of a loan buyback, you will just inform the new bank or credit repurchase organization of your desire to set up a new loan insurance that you have chosen.
Renegotiate a new loan insurance
Setting up a new loan insurance to guarantee your credit surrender can save you up to 40% compared to the current cost of your current insurance! Feel free to go through a broker specializing in loan insurance to entrust him with the negotiation of loan buyback loan insurance that will save you the most. In addition, the broker can inform you in detail and advise you on your loan buyback transaction so that you achieve the best refinancing transaction.