As part of the month-long initiative, the firm will offer borrowers the first month interest free and a discount will apply to serviced and retained loans.
The company said that when the deal was offered last year it was very popular with brokers and there was a 40 per cent increase in committed business due to 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.”
She added: “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.”
The one month interest-free promotion is part of several initiatives the firm has brought out, with others includes free legals, bank holiday flash sales and Black Friday promotions.
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