Mortgage insurance for French residents abroad
Buying in France while living in Singapore, Dubai or Montreal is possible. But the bank requires borrower insurance, and the bank’s insurer often refuses non-residents, or overcharges them. A separate contract, with an insurer that accepts your country of residence, unlocks the loan and often costs less.
Delegated insuranceA right for every borrower (Lemoine law)
Cover required by the bankDeath, total loss of autonomy, usually incapacity and disability too
Country of residenceDecisive: each insurer has its exclusion list
Switching during the loanPossible at any time
Saving versus the bank’s contractVaries with age and amount borrowed
Expatriates buying in France
A main home for the return, or a rental investment during the expatriation: the French bank lends, on condition of insurance that accepts your country. We identify the insurers that cover your residence, and build the file to the bank’s standards.
Borrowers refused or overcharged by the bank
A refusal by the group contract, or a surcharge linked to the country, frequent travel or a medical history, is not the end of the project. A specialist insurer looks at the file differently.
Loans already running
You can change borrower insurance at any time, free of charge, with equivalent cover. For an expatriate who took the bank’s contract before leaving, it is often the simplest saving to make.
Couples and co-borrowers
Splitting the cover between two borrowers, one of whom lives abroad, is decided on each person’s income and the tax rules of the country. We help you set it before signing.
Your questions about this cover.
Can a French bank refuse my insurance because I live abroad?
The bank can refuse a delegated policy only if its cover is not equivalent to its own group contract, never because it comes from another insurer. The group contract’s insurer, on the other hand, can refuse or overcharge a non-resident: that is the common case, and where delegation makes all the difference.
What cover does the bank require?
At least death and total, irreversible loss of autonomy; for a main home, usually temporary incapacity and permanent disability as well. The bank issues a standard information sheet listing its requirements: that is the basis on which we build the contract.
How much can I save compared with the bank’s contract?
It depends on age, amount and term. On a €300,000 loan over 20 years for a 35-year-old borrower, the gap between the group contract and a delegated policy often runs to thousands of euros over the life of the loan. We price both, on your file, before you choose.
Can I switch insurance on a loan already signed?
Yes, at any time, free of charge and without penalty, provided you present a contract with equivalent cover. The bank has ten working days to answer the substitution request.
Does my country of residence change anything?
It is the decisive criterion. Each insurer keeps a list of accepted, excluded or surcharged countries, and it changes. Singapore, the Emirates or Canada pass with most; other destinations need a specialist insurer. We start from your country, not from a catalogue.
Reviewed by Mustapha Naït Cherif
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