We've got the best Second Charge product out there

We'll always look to beat ANY like-for-like offer you have on the table.

The potential of Second Charge Loans

As awareness for the potential of Second Charge increases, lenders working in the Bridging space are seeing demand grow too and this is set to continue as the UK weathers the storm of the cost of living crisis with interest rates, inflation and energy bills all rising.

The effects are yet to be fully felt and it will take some time to see how things pan out, but coming out of the pandemic, we’ve been working with many businesses looking to raise funds by way of Second Charge loans - some to keep their businesses afloat and others to jump on new opportunities that have arisen.

Coming out of the pandemic and feeling the recession start to bite, businesses may have struggled to pay tax bills or even their employees’ wages and may need to take out a loan against their property to cover the temporary shortfall. A Second Charge loan is ideal for this.

And it’s not all been doom and gloom. The pandemic has created countless opportunities for many businesses and they now have growth and expansion plans.  New premises, a new fleet of vans, upgraded IT kit, an advertising campaign, the list of possibilities and opportunities is endless.

Overall we’ve seen a 25% increase in our Second Charge lending over the past year and these loans now make up almost 50% of all our cases.

We’re on a mission to raise awareness of the potential of Second Charge loans and SoMo’s market leading offering in particular. We believe so many Brokers and Introducers don’t actually realise that when we say we can lend for any business purpose, we mean any business purpose.

Looking  at the housing market, landlords – whose credit profiles may have been impacted – may have an appetite for HMO conversions but are hitting barriers when it comes to borrowing.  A Second Charge Loan is a good option for them.

SoMo’s 2nd Charge Product

Despite the financial turmoil in the UK at present, we feel positive about the future. As a business overall, we’re lending more month-on-month and year-on-year and we see Second Charge loans as an important part of our growth strategy.

SoMo is able to offer a specialist and solution-based approach to Second Charge lending, with a leading LTV of 70% against the OMV and rates from 0.6% pcm.

This isn’t only because of our market leading interest rates. Brokers, intermediaries and clients are turning to SoMo because we have the experience, the knowledge and all the systems in place to provide speedy, no hassle loans in this niche market.

We welcome all applicants, from individuals with adverse credit to businesses with a short trading history, and will lend on a director’s main residential home, even if it’s in the individual’s name; always aiming to be as inclusive as possible with a quick and easy lending process.

We’re confident that we have the BEST Second Charge product in the Market. So much so that throughout July we’ll look to beat any like-for-like quote! Challenge us this month and reward your clients with market leading rates.


Why SoMo?

Our 2nd Charge product offers LTVs up to 70% and rates from 0.6% pcm

ANY business purpose

No proof of clean credit required

Minimum loan £27,500 up to £3m

All statuses accepted, any loan term and arranged quickly


Market-leading Second Charge loans. That's SoMo.


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