Dear Subash Your letter is very good, but for a loan of this size I think you need to telephone or write a letter to arrange a meeting with the bank's loans officer to discuss it. In the current economic climate, banks need to know all kinds of details before they will lend money, especially a substantial sum. For example, the bank will need information about the existing loan, the value of the property, the type of renovations you intend to make, and most importantly whether you are in employment and are able to repay the loan.
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