Somo brings back free legals promotion

This incentive will be available to brokers and borrowers who secure a deal by midnight 28 February. 

The lender launched a similar promotion in March last year, where it covered more than £25,000 in legal fees and it aims to do the same this month. 

It also held a one-day event in November for Black Friday, where it offered to refund 90 per cent of a borrower’s valuation costs. 

Jade Keval (pictured), sales director at Somo, said: “Last year, our free legals campaign was highly successful and, after our famous Black Friday offer, was our second most popular promotion overall.  This is because it has huge value to both brokers and borrowers alike.   

“For brokers, it’s a great incentive to get a deal over the line, and for borrowers, they get up to £2,000 back when they complete. We never ask for legal fees upfront so if they don’t complete, they don’t have to put their hands in their pockets at all. We refunded thousands back to borrowers last year so it’s easy to see why there was huge appetite for us to run this again and we’re looking to smash this figure in 2023 with the help of our new and talented recruits.” 

She added: “We work closely with our brokers and fully understand the broker–borrower relationship, which is why we’ll continue to provide incentives such as this one. And not only will borrowers benefit from a brilliant deal, but also our range of innovative products and first-class customer service.”