“I saved almost 10,000 euros by changing the borrower’s insurance”

“I had three home loans, including two just for my primary residence (after repossession of the balance from my ex-wife), and I used my bank’s borrower insurance, thinking I would use the 2022 Lemoine Act to save. money by changing the borrower’s insurance. For this purpose, I contacted a loan broker who presented me with proposals, which I accepted, for all my assets.

I paid around 80 euros every month for my main residence with the old loan insurance. With the new contract, I pay only 26.50 euros for the first year. The fourth and fifth years I will pay a little more per month than today (6-7 euros more each month), then from the sixth year I will become a winner again. The result: I saved almost 8,000 euros from the 18 years of credit that I have left. On my rental property this time I pay more at the beginning than at the end – I deduct the interest on the loan for tax purposes – but in the long run I’m a winner: I save 2000 euros. In total, by changing the borrower’s insurance, I will gain almost 10,000 euros.