Cancellation of MRTA / MLTA for my housing loan (Sample Letter)

Loan Applicant:
Reference:

To Whom It May Concern:
The Mortgage Loan Department or Credit Department
Mortgagor Bank
[Postal Address]

Date of this letter:

Reference: Cancellation of MRTA / MLTA for my housing loan

Kindly be informed that we [ Name & NRIC ] would like to request to have the proposed MRTA / MLTA by your company be cancelled with immediate effect as I do have a life insurance policy with sufficient coverage that I am in the process of assigning it absolutely to your company as the collateral for my home mortgage.

This cancellation INCLUDES the built-in premium for the said MRTA / MLTA that has been bundled into my monthly loan repayment to your bank.

You may contact my financial adviser [ Name & Contacts ] with regards to the assignment of my life insurance policy to your bank.

I am fully aware as I do also fully understand the implications and consequences of my action and decision today and do not wish to be further advised on this matter.

Your generous consideration and most friendly attention to our notice is much appreciated indeed and I would look forward to receiving your earliest feedback.


Yours truthfully,



………………………………………………………
Name:
Contact: