BORROWER INSURANCE : HOW TO CANCEL AT ANYTIME THANKS TO LEMOINE LAW
Since September 2022, it is now possible for any borrower to modify, change or terminate their mortgage loan insurance at any time thanks to the Lemoine Law!
Promulgated in February 2022, this law opens the borrower insurance market to competition. Home loan insurance becomes the only insurance that can be canceled at any time, without even having to wait for the due date.
This law aims to restore purchasing power to borrowers by allowing them to find ever more suitable and more economical offers.
At the same time, this law requires insurers to inform their policyholders each year of their right of termination as well as the terms and conditions to be observed.
This will allow millions of borrowers to lower the cost of their mortgage.
There is talk of several or even tens of thousands of euros in savings over a credit period.
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