For the first time, a French bank has chosen to partially unlock access to mortgage loans for former cancer patients or people with chronic illnesses. As of Tuesday, November 9, the Crédit mutuel group is removing the traditional health questionnaire that banks and insurers submit to customers when taking out a home loan. This questionnaire condemns patients to borrow at high, even prohibitive, rates because of the insurance attached to mortgage loans.
“It’s an old idea that I had, explains Nicolas Théry, president of Crédit Mutuel. In a previous life, I had contributed to the creation of the Aeras convention [Assurer et emprunter avec un risque aggravé de santé – censée faciliter l’accès au crédit pour les emprunteurs atteints d’une pathologie]. It was a great initiative, which works, but with additional premiums and not for all pathologies. Today we must take a further step; move from an insurance logic, where each risk is priced, to a collective approach. “
“Avoid double punishment”
However, the system proposed today by the mutualist group remains subject to conditions. It only concerns the purchase of the main residence. Only customers “Faithful”, domiciling their main income for at least seven years at Crédit Mutuel or CIC – the other network of the group – will escape the health questionnaire, medical formalities, surcharges and exclusions related to their state of health. However, these borrowers must not be over 62 years of age at the time of subscription and the credit will be capped at 500,000 euros per borrower.
As for the clients of the institution who have already taken out credit and borrower insurance under these same conditions, if they are subject to an additional premium or an exclusion of guarantee, the latter will be canceled as of the 1is December 2021. “There is no wolf, says Nicolas Théry. The objective is to avoid double punishment, illness and exclusion from home ownership. “
With this measure, the bank is ahead of the political. Several socialist deputies, LR, UDI and LRM have in fact attempted to table in recent days amendments to the 2022 finance bill in order to create “inclusive” borrower insurance contracts, without a health questionnaire, with a tax incentive to the key.
“We cannot have an incantatory mutualism. We are only credible if we act ”Nicolas Théry, President of Crédit Mutuel
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Real estate credit: Crédit Mutuel removes the health questionnaire for access to the main residence