From 6 to 30 May, brokers can lock in a deal with Somo, and their clients will receive up to £2,000 towards lender legal fees. Somo said this would help borrowers access competitive bridging finance with fewer upfront costs.
The lender said when it ran the promotion last year, this led to an 82% increase in locked-in deals. The rise in business also saw Somo commit to covering more than £112,000 in legal fees.
Jade Keval (pictured), sales director at Somo, said: “Last year’s Free Legals promotion was a huge success – we saw an 82% uplift in locked-in deals and committed to covering over £100,000 in borrower legal fees.
“It proved to be a real game-changer for brokers, helping get more deals over the line and giving borrowers meaningful savings at a time when cutting costs really mattered – and these savings are just as relevant, if not more so, today.
“This May, we’re bringing it back and hoping to go even further. With up to £2,000 in lender legal fees covered, we expect another huge response – and we’re ready for it. It’s a great opportunity for brokers to stand out and deliver added value to their clients.”
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