By Ben Rose, Relationship Director for London and The Home Counties
Adverse credit isn’t a niche anymore, it’s part of my broker conversations every single day. More borrowers are dealing with historic credit issues, temporary financial disruption or circumstances that simply don’t fit tick-boxes.
But too often, complexity and less than perfect credit is treated as a barrier rather than an opportunity.
At Somo, we take a different view. If a client has a property, a story and a clear reason for needing support, the question shouldn’t be “why not?” — it should be “how can we make this work?”
1. Complex Cases Deserve Straightforward Solutions
Clients facing adverse credit are often already under pressure. Long processes, rigid criteria and repeated declines only add to that stress.
Brokers who take the time to understand the full picture, not just the credit score, are best placed to deliver solutions that genuinely help clients move forward.
Advising on adverse credit isn’t about lowering standards. It’s about applying judgement, flexibility and experience to find the right solution, rather than the easiest one.
2. Trust Is Built When Others Say No
When a broker helps a client through financial difficulty, it creates loyalty that lasts far beyond a single transaction.
Clients remember the broker who dealt with the situation with respect, simplified the process, explained the options clearly and found a way forward when traditional routes were closed. In our experience this trust often translates into repeat business, refinances and long-term relationships as circumstances improve.
3. Specialist Lending Rewards Expertise
Adverse credit cases require more thought, more structure and more care - and this type of specialist lending reflects that.
For brokers willing to engage, there’s an opportunity to grow income while delivering genuine value.
4. Demand Is Rising
As affordability issues continue and lending criteria tightens, more clients are being pushed outside mainstream options but this is where I’m seeing Brokers step in. Last year we read with interest Bridging Loan Directory’s report that 72% of brokers surveyed expected the bridging sector to grow this year - I feel certain that a significant portion of this business will be adverse.
5. Education Unlocks Better Outcomes
Many clients with adverse credit never apply for finance because they assume the answer will be no.
Creating a safe, non-judgemental space for open conversations allows brokers to explain what is possible, including short-term solutions that give clients time, stability and options.
Introducing Somo's Lifeline Loan
Somo’s Lifeline Loan is the finance solution designed for clients facing insolvency, defaulted debt, or situations where refinancing elsewhere isn’t possible. We know that running any business - whether it’s a small company, large enterprise, or property development firm - comes with unexpected challenges, from shifting market conditions to supplier or customer issues. While other lenders may step back in difficult times, Somo steps in.
Our Lifeline Loan is specifically built to support borrowers dealing with defaulted debt, insolvency, or even bankruptcy, offering refinancing options and the extra funds, time, or breathing room needed to get back on track. No judgement, no unnecessary hurdles - just the stability and support your business clients deserve.
Key features
- Any Business Purpose including insolvency and debt restructuring.
- Specialist Second Charge Team including dedicated in-house consent manager.
- No Lender Legal Fees until completion.
- Fast, flexible decisions when time matters most.
- We lend on the Open Market Value not the restrictive180 or 90-day Value
- We’ll lend on the Director’s Main Residence.
- Offers within 1-hour
Case Study - Refinance
The Deal
Ms T had taken out a high-interest bridging loan to fund a property purchase, a holiday rental home in North Wales. When the loan approached expiry, her planned exit - a long-term commercial mortgage - fell through due to delays in her self-employed accounts being finalised. She risked default and losing the property if a refinance wasn’t arranged quickly.
The Outcome
Somo delivered:
- A fast refinance solution, secured against the property.
- Negotiated settlement with the original bridging lender to avoid default penalties.
- Clear repayment plan with improved terms.
- Ms T avoided default, reduced her monthly costs and protected her investment property - her holiday home rental income.
Ready to discuss a case? Get in touch:
📞 0161 312 5656
Find your Regional Relationship Director today or explore our full range of bridging loan products.
Frequently Asked Questions (FAQs)
- What is an adverse credit bridging loan?
An adverse credit bridging loan is a short-term finance solution designed for clients with a history of credit issues, such as missed payments, defaults, or insolvency.
- Can I get a bridging loan if I have a poor credit history?
Yes, at Somo we assess each case individually. If you have a property, a clear purpose for the loan, and a viable exit strategy, we may be able to help—even if you’ve had credit challenges.
- What is Somo’s Lifeline Loan and who is it for?
The Lifeline Loan is a specialist product for borrowers facing insolvency, defaulted debt, or situations where refinancing elsewhere isn’t possible. It’s designed to provide stability and options when traditional lenders can’t help.
- How quickly can Somo provide a decision on my application?
We can provide offers within one hour, ensuring fast and flexible support when time is critical.
- Do I need first charge lender consent for a second charge Lifeline Loan?
No, Somo can lend via equitable charge even if the first charge lender does not provide consent, subject to our underwriting criteria.
Categories: Broker News, Borrower News
