Dealing with the refusal of mortgage insurance

Refusal of insurance loan: how to do?

Refusal of insurance loan: how to do?

A refusal of loan insurance can prevent you from realizing your real estate project. The Insurance-Loan-Loan Insurance Broker explains to you how to make a mortgage insurance refusal so that you get your financing to buy a home.

The case of refusal of mortgage insurance

You have the project to invest in the real estate and thus seek the necessary financing for your operation of purchase of housing. For this, you contact your banker. Once he has verified his creditworthiness, he presents the insurance contract of the bank and gives you a health questionnaire to complete. And depending on your state of health, your banker may ultimately refuse to grant you the loan because of a loan insurance refusal .

The group insurance contract of the banks

The group insurance contract of the banks

Proposed by the banks, a group insurance contract is a classic and collective loan insurance that protects borrowers against the risks of death, disability and work stoppage. This type of cover spreads the risks across all of its subscribers. To join, it is often necessary not to exceed the age of 65. If the information you provided in the health questionnaire does not fit in the “average”, your bank may refuse to insure you or ask you to pay a premium. Despite your solvency, you can see your project braked.

What to do in case of refusal of insurance loan?

refusal of insurance loan

It’s not because your bank refuses to make sure you can not get insurance. Indeed, thanks to the Lagarde law of 1 September 2010, borrowers can use the “insurance delegation”: you can subscribe your credit insurance outside the bank. It is therefore entirely possible for you to compete with insurance companies to find an individual insurance that allows you to obtain your credit.

By going through the services of the insurance broker-Loan-not-expensive, you can choose from the individual loan insurance offers to the guarantees best suited to your situation and the lowest rates on the market. You will be covered at the best price for risks that have previously led to a refusal insurance borrower from your bank. With the implementation of your insurance delegation, your banker will no longer be able to refuse to grant you your mortgage.

The convention

In the event of loan insurance refusal, the AERAS (Ensuring and Borrowing with an Enhanced Health Risk) convention helps people with an aggravated health risk so that they can obtain insurance and borrow. Comprising two levels of additional file review, this device allows for a re-study of insurance demand by medical specialists to find the appropriate coverage solution for the borrower.