Credit Agricole is the largest bank in France, and provides the majority of mortgages for house purchase. These notes were provided by their local English speaking international banking arm, CA-KeyFinance, at our request.

Insurance obligations

Two types of insurance are required when you purchase a home in France. One is building and contents insurance that covers the property itself and the other is life assurance (including total and irreversible loss of independence) covering the borrowers for the total amount of the loan.

Building and Contents Insurance

Building, property and contents insurance is obligatory and the policy must be put in place before you sign the deed of purchase. Your notary will ask for a copy of the policy at the moment of signing the deed.

Life insurance / Mortgage Protection

Taking out a life assurance policy to cover the amount of a property loan is not a legal obligation in France. However, potential buyers should be aware that French banks do not offer loans without it. In most cases, the mortgage protection and loan application are treated simultaneously.

The mortgage protection is :  

      - cover of the remaining capital due in case of death for non-residents.
      - cover of the remaining capital due in case of death or disability for resident.

CA-KeyFinance

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