Mortgage Protection should not be compulsory

[nest egg]

Ever notice how low mortgage rates are in France?

The reason?, you are obliged to take out mortgage protection insurance with your mortgage, covering death, permanent invalidity and temporary incapacity to work.

Default rates are incredibly low as a result and French consumers benefit from much lower interest rates as a result.

 

[ClubMan]

Ever notice how low mortgage rates are in France?

Note that in France very long term/full mortgage term fixed rates are common and most variable rate mortgages employ rate capping.

 

[Premos]

In France, social protection payments are higher than in Ireland generally, so when you become unemployed, your income doesn't drop dramatically. The same thing in terms of illness. That might also have an influence.

 

[Purple]

In France, social protection payments are higher than in Ireland generally, so when you become unemployed, your income doesn't drop dramatically. The same thing in terms of illness. That might also have an influence.

They also have significantly higher property taxes and as a result their property prices are lower so mortgage repayments are a smaller proportion of income.

 

[misemoi]

It's quite commmon for people who have mortgages to acquire partners and/or beget children. (Indeed, some would say that being a homeowner improves your pulling power and so makes it more likely that you will couple up!)

I am laughing at this as I recall seeing during the financial crisis years tongue in cheek advice to give the impression you were renting and not an owner in negative equity if hosting a date at your home...let the garden overgrow, use old furniture etc