SoMo Offers 68% LTV On Second Charge Bridging Loans

Short term finance has grown in popularity and can be used for varying purposes. Including...

With the rise of buy-to-let mortgages, small business, the self-employed, who don’t necessarily tick all boxes the high street ask of them, there was a need for more flexibility from lenders. Short term finance particularly has grown in popularity and can be used for varying purposes.

 

Take the example below:

 

A 68% Second Charge Bridging loan was locked in for James.
He was looking to expand his property portfolio and needed to raise funds on his home. 

Our solution:
Our team helped by funding a £800k Bridging loan. The loan was secured by way of a second charge at a market leading 68% of the open market value, funded in 16 days. 

 

We lend:
- Against the Open Market Value, for first and second charge purposes.
- On all sorts of non-standard property types.
- To various types of people, including limited companies, ex-pats, self-employed, people with blips in their credit and many more.

SoMo News

Stay up to date with all the latest SoMo updates, Investor news and much more.

STAY IN TOUCH
Client Reviews

What people say about Social Money (SoMo).