Somo launches ‘one month interest free’ deal

Somo Bridging has launched its ‘one month interest free’ deal for clients of brokers that lock in a deal with the firm throughout May.

As part of the month-long initiative, Somo will treat borrowers to their first month interest free and the discount will apply to both serviced and retained loans.

When Somo launched the offer in 2022, it saw a 40% increase in committed business as a result of the promotion.

Somo’s sales director, Jade Keval, said: “At Somo we like to do things differently and this one month free interest offer is unique in the lending world. It’s part of an ongoing mission to help brokers get deals through and keep their clients happy, so they keep coming back. We hope they’ll take full advantage of this limited time offer and get in touch about the deals they’re currently working on.

“We saw a lot of uptake when we launched this initiative last year and since then, the cost of living has only got worse. Savings like this are likely to be very attractive to borrowers so we expect to have a busy May that benefits both borrowers and brokers alike.”