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Sample personal loan refusal letter example

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By Sample Letters


Here's a typical loan refusal letter that you would receive if your application for a personal loan was declined. The last section of the letter informs the customer that their details have been passed to another lender. Actually, banks and other finance companies get paid for supplying your details as a lead to other company. If they didn't tell you they were going to do this, call them and complain and stop your details from being used.

_______________________________________


Dear Mr/Mrs

Re: Your Application for Personal Loan

Thank you for your recent application for a personal loan. We have considered your application carefully but I am afraid we are unable to offer you a loan.

How we made this decision

Your application has been assessed by one of our experienced underwriters who has taken into account all the information available when making the decision.

Thank you for choosing The Bank of Leicester. I am sorry that on this occasion we were unable to help you.

Our lending policy is constantly under review and if you were to re-apply in 12 months time, the decision may be different.

This decision has been based on information you provided to us at the time of application and we believe this decision to be correct. However, you are entitled to appeal this decision if you feel you have additional up to date, relevant information. If you request an appeal our underwriting department may have to contact you to obtain these further details. Applications submitted for an appeal will take 14 working days to assess. To request an appeal you can write to us at the above address or alternatively e-mail us at: email address.

Your information has been passed to an alternative loan provider. They may contact you within the next couple of days if they are able to offer you an alternative loan.


Yours sincerely


Application Review Department
The Bank of Leicester

________________________________________

For information on how to write effective letters go to the All Cover letters website. You can find additional samples free at Credit Letters UK


Sample personal loan refusal letter example
Sample personal loan refusal letter example

RSS for comments on this Hub

Upoma Dutta  says:
2 months ago

Your effort in helping students and professionals by providing free business letters is certainly commendable. I wish you all the best with your great work.

To help you further improve your work, I will like to provide feedback about the letter above. First of all, the letter begins with the timeworn expression "Thank you for your application". Can't this be worded differently for this specific case?

Secondly, the letter contains too many negative words, such as "sorry", "unable" "afraid" and "but". Avoiding these negative words will help build goodwill with the applicant.

I hope this feedback is helpful!

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Sample Letters  says:
2 months ago

Thanks Upoma Dutta! I really do appreciate this feedback. I have moved the comments section a little further up so that visitors can read this too.

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