If you have a real estate project that you can not fund in its entirety, you will necessarily have to resort to a mortgage.
- If your personal bank, your advisor can make you a loan proposal. Knowing that Bank’s reputation for real estate loans is well established.
- If your bank accounts are in another bank, you can also ask Bank to offer you an encrypted offer. On the other hand, if it suits you, you will have to open a Bank current account and transfer your income to this account.
Anyway the banker will address the subject of insurance related to this mortgage. Because no credit of this type is granted if a borrower insurance is not subscribed at the same time. (This is valid for all banks).
Of course, the insurance he will offer you is the one with which he is in partnership.
Is there a choice of borrower insurance or is it necessary to take the one offered by the bank?
There was a time when the bank imposed its insurance without the borrower having a say. It is now possible to choose the insurance company that you want to cover a loan.
Specifically, we advise you to make comparisons between several “quotes”, namely that proposed by the banker and those you have asked various insurance companies . And this, for the following reason: Strong savings are achievable by choosing the most competitive insurer.
We have just explained to you that you have the right to take out the loan insurance you want. On the other hand, you must know that the bank still has a say because if it can not force his insurance, it is she who decides the necessary guarantees to cover the loan.
Therefore: The insurance you choose should contain the same guarantees as the insurance Bank has offered you.
The mortgage offer that your adviser gives you mentions these different guarantees. So when you contact insurance companies you just have to give them a copy of this document, so that they adapt their offers.
OUR OPINION AND OUR ADVICE
The insurance that Bank offers is a group insurance, This type of coverage is according to the profile of the borrower sometimes competitive. But in many cases, an individual insurance is more interesting in terms of cost. There is only one way to know the cheapest formula: Compare several insurance, compare it to that of Bank and opt for the cheapest.