Dear [Name of Bank/Lender],
I am writing to humbly appeal for your kind consideration in reviewing and reducing my monthly housing loan repayment amount. As a loyal and responsible customer of your esteemed institution, I have consistently upheld a track record of timely loan payments and have strictly adhered to the terms of our agreement.
Considering my current circumstances, I kindly request a reduction in the interest rate or an extension in the loan tenure. Due to recent unforeseen challenges and a significant downturn in my income, I am experiencing unforeseen financial hardships that make sustaining the existing repayment amount increasingly difficult. The financial constraints I am facing pose a genuine threat to fulfilling other essential obligations.
I genuinely understand that your institution operates on well-established policies, and I assure you that I am fully committed to honouring my obligations. A temporary adjustment or restructuring of the loan repayment terms will afford me the necessary breathing space to regain my financial stability and ensure consistent repayments in the long term.
I kindly request an opportunity to discuss my situation further with a relevant representative of your bank/lending institution. I am available for a meeting at your convenience to present any additional information or documentation that may be required to support my appeal.
I am confident that your bank/lending institution values customer loyalty and satisfaction, and I trust in your understanding of the unpredictable nature of life circumstances. I wholeheartedly believe that reducing my housing loan repayment will enable me to overcome the current challenges and re-establish a sound financial footing, benefiting both myself and your institution.
I sincerely appreciate your attention to this matter and remain optimistic that a favourable decision will be made. I look forward to the opportunity to further elaborate on my circumstances and work together towards a mutually beneficial resolution.
Yours sincerely,
[Your Name]