Somo launches 90% off valuation fees offer - plus free beer for brokers

Bridging lender, Somo, is bringing back its 90% off valuation fees offer on all deals locked in between 1st and 29th August, plus a free beer to celebrate.

Last year’s campaign saw a 54% increase in locked-in deals and Somo committing to over £126,000 in valuation fees for borrowers. 

Brokers locking in deals during August can also claim a free beer to celebrate.

The promotion follows Somo’s recent rate cuts, with first charge rates now starting from 0.69% with up to 75% LTV on the OMV, and second charge rates from 0.85% with LTVs up to 70%.

Somo’s other product highlights include no lender legal fees until completion, no application forms, a specialist second charge team with a dedicated in-house consent department and equitable charge lending.

Jade Keval (pictured), sales director at Somo, commented: “Last year, our 90% off valuations promotion was a huge hit with brokers, enabling deals closed and giving borrowers substantial savings on a cost they can’t avoid. This August, we’re bringing it back, and we’re aiming to go even bigger – with free beers to celebrate our pricing cuts, our proven success, and the exciting summer we’ve had so far here at Somo. 

"With up to £3,000 in valuation fees covered, we’re expecting another exceptional response – and we can’t wait to see how it unfolds."