The borrower insurance reform comes into force on Wednesday, June 1 for new contracts and from September 1 for contracts already in progress. It removes the medical questionnaire for real estate loans of less than 200,000 euros per person, which expires before the borrower’s 60th birthday. The duration of the right to be forgotten for cancers and hepatitis C also extends from 10 to 5 years. “It’s really the result of a long struggle”rejoiced at franceinfo Isabelle Huet, general manager of the RoseUp association, which has been fighting for more than ten years for access to loans and the right to be forgotten for people affected by cancer.
franceinfo: The reform comes into force this Wednesday, is it a relief for you?
Isabelle Huet: It really is the result of a long struggle. The situation was really very complicated for all people who had cancer or other forms of pathology, to access the loan. Especially since there has been a reversal, a drift of the market for several years. Normally, the principle of insurance is that the youngest and healthiest agree to pay a little more for the elderly and people with a health problem. Except that in reality, people who had health problems paid much more, with surcharges, exclusions from guarantees, or even loan denials.
Concretely, what will change?
There are two devices. First of all, the deletion of the medical questionnaire, which comes into force today and is aimed at anyone, like me, who wants to take out a real estate loan of less than 200,000 euros per person, for loans which expire on your 60th birthday. Under these conditions, there is no longer a medical questionnaire. It’s really about everyone. This is a huge change. Alongside this, there is the right to be forgotten about people who have had and are cured of cancer as well as people who have had hepatitis C. It is five years after the end of treatments and this applies to both home and business loans, regardless of the amount or age of repayment.
Has it been hard to convince the banks and insurance companies, and isn’t there a risk of their rates going up?
They were not convinced. Those who have been persuaded are the government and the parliamentarians, and we have been very fortunate to have a very good listening on all the benches of the Assembly and especially in the Senate. So there is a small risk that insurance rates will go up a bit, but they have dropped so much in recent years with a very competitive market that if there is an increase, it will not be huge. It should be noted that the margins today are huge. Insurers and banks will be able to trim these to allow much wider access to borrower insurance for as many people as possible.
Is this law, as it stands, sufficient?
This ceiling of 200,000 euros per person covers 60% of loans today, that’s a lot, but it’s true that in areas of land stress, such as in Ile-de-France, it’s not not enough. In the coming months or years, he will have to set some limits. On age as well. It works for loans that are maturing in the borrower’s 60th birthday, which limits access for young people. But it’s not just young people who want to look to the future and buy housing.