Carole Ferry 11:29 a.m., January 19, 2022
An amendment tabled Wednesday morning risks upsetting the framework for mortgages.
The senators backtracked on the possibility of being able to change borrower insurance when desired and not on the anniversary date, as had been proposed by MP Patricia Lemoine (Agir Ensemble).
Have you considered charging insurance for your mortgage?
It could be more complicated than expected.
A text presented to Parliament was to make it possible to change borrower insurance when desired in order to revive competition in the sector and thus lower prices.
A text voted in the Assembly at first reading, but a new amendment tabled this morning in committee should change the situation.
Indeed, the senators opposed the liberalization of the borrower insurance market.
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A second reading in the Assembly?
Thus, this new amendment tabled by LR senators provides for progress, in particular the end of medical questionnaires when your credit ends before your 65th birthday.
But also a backtrack on the possibility of being able to change insurance whenever you want – the text amounts to a change only on the anniversary date of the contract.
It is rumored that the president of the French banking federation, Nicolas Thery, would have called the senators himself to convince them to back off.
A second reading could be scheduled in the Assembly, but not sure that there is a window of opportunity in the parliamentary calendar before the presidential election next April.