Somo Bridging sees ‘best month ever’ following interest-free promo

The lender beat its previous monthly record by 12 per cent and it saw 11 per cent more applications compared to its last record period. 

During May, it held a promotion to refund borrowers with one month interest on the repayment of a loan, with the discount applied to serviced and retained loans. Somo said this saved borrowers up to one per cent of their interest. 

Jade Keval (pictured), sales director at Somo, said: “Initiatives like this are beneficial for brokers and their clients, and it’s results like this that prove their appeal. While we can provide borrowers a significant saving, we also hope our offers bring in more business for our brokers. 

“By being committed to making business easier and better for our brokers, this, in turn, makes for happy, satisfied clients who want to work with them again. It has been brilliant for Somo to see our busiest and best month ever – especially so soon after other record-breaking months this year. 

“At Somo we like to do things differently and the one month interest-free offer is unique in the lending world. We have a great team talking to brokers every day to find out what makes their clients tick, and it’s because of these strong relationships that we can ascertain what will strengthen their arsenal when it comes to winning business.”