{"id":34228,"date":"2025-07-03T09:00:00","date_gmt":"2025-07-03T07:00:00","guid":{"rendered":"https:\/\/www.11onze.cat\/?p=34228"},"modified":"2025-06-16T15:50:00","modified_gmt":"2025-06-16T13:50:00","slug":"untie-home-insurance-mortgage","status":"publish","type":"post","link":"https:\/\/www.11onze.cat\/en\/magazine\/untie-home-insurance-mortgage\/","title":{"rendered":"How to untie home insurance from the mortgage"},"content":{"rendered":"<div class=\"component text\">\n  <div class=\"container\">\n\n\n    <div class=\"row\">\n      <div class=\"col  col-lg-8  offset-lg-2\">\n        <h3><b>Are you required to take home insurance in order to get a mortgage? The answer is yes. But that does not mean you must take it out with the bank that has granted you the mortgage. And if you have done so, you have the right to change it to any insurance company that offers you better conditions. We explain how to do it.<\/b><\/h3>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Traditionally,<\/span><b> banks have taken advantage of the granting of a mortgage to force you to take out other products<\/b><span style=\"font-weight: 400;\">, especially home and life insurance, in most cases with uncompetitive conditions. Fortunately, the mortgage <\/span><a href=\"https:\/\/www.boe.es\/buscar\/doc.php?id=BOE-A-2019-3814\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">law<\/span><\/a><span style=\"font-weight: 400;\"> of 2019 makes it clear that, although the financial entity can demand the contracting of home insurance, <\/span><b>the client has the right to contract it with the company that offers the best conditions<\/b><span style=\"font-weight: 400;\">. And they can even change insurer if they wish to do so.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The only condition for changing is to wait for the annual expiry of the policy contracted with the bank. By giving <\/span><b>formal notice two months before the expiry of the policy<\/b><span style=\"font-weight: 400;\">, the customer can indicate to the bank his or her decision not to renew the home insurance contract when it expires.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In addition, <\/span><b>the user must present the bank with a copy of the new policy<\/b><span style=\"font-weight: 400;\">, which must include the assignment of rights corresponding to the capital that is still subject to mortgage. This is a formality that the new insurance company can help you to do correctly.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h3><b>Linked interests<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">A thorny issue when changing insurance is usually the <\/span><b>linking of the mortgage interest rate with the insurance contract<\/b><span style=\"font-weight: 400;\"> with the bank. In fact, it is likely that the mortgage clauses contemplate a rise in the interest rate if the insurance is not taken out with the bank.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In this case, it is necessary to be careful not to lose out financially and <\/span><b>to calculate how much we gain and how much we lose with the change<\/b><span style=\"font-weight: 400;\">. There can be a slight financial loss in the first years of the mortgage, when the part of the instalment corresponding to interest is very high and that of capital amortisation is very low. However,<\/span><b> as the years go by, the impact of the interest rate becomes minimal<\/b><span style=\"font-weight: 400;\"> because almost everything we pay is capital, so this coercive clause is no longer an impediment to changing the home insurance to another insurer.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Using a mortgage calculator, <\/span><b>it is possible to find out the exact date when it is in our interest to change to another insurance company <\/b><span style=\"font-weight: 400;\">to get better conditions and price. The savings can be significant, more often than we thought so.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><b>If you want to discover fair insurance for your home and for society, check <\/b><a href=\"https:\/\/www.11onze.cat\/en\/11onze-segurs\/\" target=\"_blank\" rel=\"noopener\"><b>11Onze Segurs<\/b><\/a><b>.<\/b><\/p>\n\n      <\/div>\n    <\/div>\n  <\/div>\n<\/div>\n\n\n<div class=\"component cards\">\n  <div class=\"container\">\n    <div class=\"row\">\n      <div class=\"col col-xl-8 offset-xl-2\">\n        <h1>If you liked this article, we recommend you read:<\/h1>\n        <div class=\"cards__wrapper\">\n          <div class=\"card\">\n            <a href=\"https:\/\/www.11onze.cat\/en\/magazine\/protect-home-holidays\/\" class=\"card-link\" target=\"_self\"><\/a>\n            <div class=\"card-img\">\n              <img decoding=\"async\" src=\"https:\/\/www.11onze.cat\/wp-content\/uploads\/2022\/06\/THUMBNAIL_PROTEGIR_LLAR_ESTIU.jpg\" class=\"card-img-top\" alt=\"\">\n                <span class=\"card-category\">Management<\/span>\n            <\/div>\n            <div class=\"card-body\">\n              <p class=\"card-title p2\"><strong>Protect your home during the holidays<\/strong><\/p>\n              <span class=\"card-time\">4 min read<\/span>\n              <p class=\"card-text small\">Summer is coming and many people are already starting to<\/p>\n            <\/div>\n          <\/div>\n\n\n          <div class=\"card\">\n            <a href=\"https:\/\/www.11onze.cat\/en\/magazine\/best-home-insurance-11onze-segurs\/\" class=\"card-link\" target=\"_self\"><\/a>\n            <div class=\"card-img\">\n              <img decoding=\"async\" src=\"https:\/\/www.11onze.cat\/wp-content\/uploads\/2022\/06\/THUMBNAIL_SEGURS.jpg\" class=\"card-img-top\" alt=\"\">\n                <span class=\"card-category\">11Onze<\/span>\n            <\/div>\n            <div class=\"card-body\">\n              <p class=\"card-title p2\"><strong>The best home insurance<\/strong><\/p>\n              <span class=\"card-time\">3 min read<\/span>\n              <p class=\"card-text small\">Everyone agrees that a good home insurance provider should<\/p>\n            <\/div>\n          <\/div>\n\n\n          <div class=\"card\">\n            <a href=\"https:\/\/www.11onze.cat\/en\/magazine\/insurtech-future-insurance\/\" class=\"card-link\" target=\"_self\"><\/a>\n            <div class=\"card-img\">\n              <img decoding=\"async\" src=\"https:\/\/www.11onze.cat\/wp-content\/uploads\/2022\/06\/THUMBNAIL_INSURTECH.jpg\" class=\"card-img-top\" alt=\"\">\n                <span class=\"card-category\">Technology<\/span>\n            <\/div>\n            <div class=\"card-body\">\n              <p class=\"card-title p2\"><strong>Insurtech: the future of insurance<\/strong><\/p>\n              <span class=\"card-time\">2 min read<\/span>\n              <p class=\"card-text small\">Just as fintechs have provoked a paradigm shift in the banking<\/p>\n            <\/div>\n          <\/div>\n\n              <\/div>\n              <br>\n              <br>\n              <div class=\"cards__wrapper\">\n\n        <\/div>\n      <\/div>\n    <\/div>\n  <\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"","protected":false},"author":71,"featured_media":34225,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","footnotes":""},"categories":[1],"tags":[16],"class_list":["post-34228","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-manage"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - 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