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mortgage Access Expanded for Prostate and Testicular Cancer Survivors
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A major mutual bank has announced that former prostate and testicular cancer patients will now benefit from the “right too be forgotten” regarding borrower’s insurance for mortgages, effective at the conclusion of their treatment.
In a move offering relief to Customers of Savings Caisses and Popular Banks, those who have faced a cancer called “male”, such as prostate or testicular cancer, will no longer be automatically excluded from mortgage borrower insurance.
The new policy, effective Monday, May 26, applies “If they are placed under active medical supervision without current treatment, or if their therapeutic protocol is finished”.
This applies to loans up to three million euros, according to BPCE (Banque Populaire Caisse d’Epargne) and their partner CNP Assurances.
Since March 2024, the two groups have extended similar access to women who have recovered from breast cancer, granting them the same borrower insurance terms as any other applicant upon completion of surgery, chemotherapy, or radiotherapy.
BPCE emphasizes that this initiative goes “luet beyond the provisions provided for by the Convention Aeras (Ensure and borrow with an aggravated risk of health) supervising the right to be forgotten “.
Securing a mortgage post-cancer can be challenging, even after recovery.
Despite the easing of restrictions under the Lemoine law of 2022, individuals with a history of cancer or viral hepatitis C typically must wait for more than five years after completing treatment, without relapse, to qualify for the “right to be forgotten” in borrower insurance.Before the Lemoine law, this waiting period was a decade.
Taking out a mortgage is not always easy after cancer even if the disease is only a bad memory.
Previous Action by BNP Paribas Cardif
The “right to be forgotten” allows former patients to omit their past health issues from the medical questionnaire required for insurance that guarantees mortgage repayment in case of death, disability, inability to work, or job loss.
Under this right, insurers cannot deny coverage or impose additional premiums on these individuals.
In 2023,France recorded an estimated 433,000 new cancer cases,according to BPCE.
Prostate cancer is the most prevalent among men, with approximately 60,000 diagnoses annually, according to the National Cancer Institute.
Earlier in May, BNP Paribas Cardif announced a similar initiative, allowing individuals who have overcome prostate, testicular, or breast cancer to obtain borrower insurance for personal or professional real estate projects up to one million euros, without surcharges or exclusions, instantly following the completion of their treatment.
This eliminates the five-year waiting period mandated by the “right to be forgotten” law.
