Polite way to telling a Banker you are using another

[Rich Ramjatan]

Hey Bp,

Found myself in a bit of a situation , I been hunting down lenders for the past couple weeks and finally found 2 lenders with favorable terms.

2nd lender came back to me with even better terms and most probably going to go with them . Lender 2 has no documentation on me and Lender did a phone questionnaire, so not committed to either .

How do I break it to lender 1 easily ?