Real estate: Crédit Mutuel puts an end to the health questionnaire for its customers

"As of today, our loyal customers will no longer have to fill out a health questionnaire for the acquisition of their main residence", will therefore have "no more medical formalities" and "will no longer be subject to additional premiums or exclusions linked to their state of health”, announced Crédit Mutuel.

Borrower insurance covers various risks such as death, illness or disability, protecting both borrowers and banks against possible default. But in the event of a serious health problem or history, it can become very complicated, if not impossible, to take out insurance, and therefore to take out a mortgage.

This Crédit Mutuel initiative concerns all the group's regional federations, with the exception of Arkéa, which brings together the Brittany and South-West federations and which seeks to become independent from its central body.

Income domiciled with Crédit Mutuel for seven years

The system will apply to customers whose main income has been domiciled with Crédit Mutuel for seven years, for an insured amount of up to 500,000 euros per borrower for policyholders aged 62 or over, and for the purchase of a main residence. .

This condition of seven years of seniority should not exclude many customers but will limit the influx of new borrowers.

Nicolas Théry, president of Crédit Mutuel, assumed it at a press conference: this change is “not offered to people who tour the market”. "We support each other mutually and sustainably," he said.

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Eligible customers who already have borrower insurance with Crédit Mutuel will see their possible additional premium or exclusions removed from 1 December.

The cost of this measure is estimated at 70 million euros per year, it was specified to Crédit Mutuel, where we want “this to become a new market standard, regardless of its insurer. We want to move the market and the public authorities” so that the legislation evolves.

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The chairman of Crédit Mutuel therefore insisted on his wish not to be the only one to abolish health questionnaires, responsible according to him for a "double penalty" for sick people, and even for those who have recovered but who must continue to declare their former affection. Today only former cancer patients have since 2017 a "right to be forgotten" under certain conditions.

Contacted by AFP, the French Banking Federation (FBF), of which Nicolas Théry is the current president, did not wish to comment on the initiative of one of its members.

"With regard to the regulation of borrower insurance, (the FBF) defends a mutualised model which protects households who have a mortgage and ensures wide access to property", she recalled.

This announcement by the mutualist group comes as a group of Agir MPs tabled a bill to allow policyholders to be able to change borrower insurance at any time, whereas this is now only possible the first year, then at each anniversary date.

Criticizing this measure, which he accuses of establishing "a kind of Far West" where renegotiation at any time would favor customers in good health, to the detriment of others, Mr. Théry called for "pooling" and " solidarity".