Mortgage letter of pleading

how to compose your mortgage pleading letter

how to compose your mortgage pleading letter

Plead your case

A mortgage letter of pleading is sometimes requested by a mortgage lender to support a mortgage application where there has been turbulence on the credit file.

If you have been asked for a mortgage pleading letter we outline below what you need to include – we hope you find this useful.

What is a mortgage letter of pleading?

A pleading letter is a document that assists the mortgage lender’s underwriter to understand the reasons that you have adverse credit on your file and why these issues should now be behind you.

Your objective with your mortgage letter of pleading

Your objective with your pleading letter is to give the mortgage underwriter the best possible case for considering you as suitable applicant for mortgage lending.

What should I include in my mortgage letter of pleading?

Your letter should be signed by all applicants, dated, and addressed to the Lender from whom you are seeking lending.

Your pleading letter should explain, clearly and concisely, the circumstances surrounding the various issues on your credit file, how they came about, and what has changed in your world to indicate that your problems are now in the past.

Reasons behind the issues on your credit file

  • Were the blemishes on your credit file the result of administrative error or miss-communication?
  • Did you lose your job or have to work reduced hours?
  • Did your business close?
  • Were you ill or off work for an extended period?
  • Was there a bereavement in the family, or a breakdown in a relationship?
  • Was there fraudulent activity on your credit file?

Actions you took to maintain your credit or deal with creditors

What did you do to attempt to manage the situation?
Did you make any arrangements with your creditors at the time?

What has changed since to improve your situation?

  • Are you now more secure in your job?
  • Has your income increased or outgoings reduced?
  • Has your health now improved?

If you are unsure what to include in your mortgage letter of pleading you should speak to your bad credit mortgage broker who will be able to assist you.

Please remember however that your mortgage letter of pleading needs to be written by you. Your mortgage broker cannot plead on your behalf.

If you would like assistance with bad credit mortgage lending call our team now.

Call us on 020 8979 9684

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