Mortgage loan insurance is often overlooked when buying a property, yet it can account for up to a third of the total cost of the loan. So choosing your insurance contract carefully can make a big difference to your finances. Find out how you can save on your mortgage by changing your insurance.
Why choose Sagesse for your loan insurance?
Home loan insurance guarantees repayment of the loan in the event of the borrower's death, disability or loss of employment. By choosing the right contract, not only can you protect your investment, but you can also make considerable savings.
Home Loan Insurance Rates in 2024
Mortgage loan insurance rates vary according to various factors, including the borrower's age, state of health, activities and the level of cover chosen. For example, a borrower under 35 can benefit from an insurance rate of around 0.49 %, while a person over 55 can see this rate exceed 1.25 %.
Save money by changing your insurance
Changing your mortgage insurance can result in significant savings. Thanks to the Lemoine Act of 1 September 2022, it is now possible to take out insurance without a medical questionnaire for certain amounts, offering fairer access to credit.
Comparing the offers available is essential to finding the best rate and the cover best suited to your needs.
Numerical example:
Taking the example of a 40-year-old non-smoker borrowing €200,000 over 20 years with an average insurance rate of 0.77 %, the total cost of insurance over the term of the loan would be around €30,080.
In comparison, by changing insurance and opting for a more competitive rate of 0.5 %, the same borrower could reduce the total cost of insurance to around €20,000, a saving of more than 33 % over the term of the loan.
How can I save money?
To obtain a personalised quote and compare the available offers, we at La Maison de l'Immo offer you the opportunity to carry out a online simulation thanks to our partner AA Courtage, and offers you an effective way of finding the best insurance rate for your home loan in 2024, while respecting your needs and your budget.
Conclusion
Choosing your mortgage loan insurance wisely can help to significantly reduce the total cost of borrowing and guarantee cover that is tailored to your specific needs. Don't neglect this crucial step when buying a property.
Ready to save on your mortgage? Make a simulation now and discover the potential savings that await you!