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Somo News
When the Lender Says No: £1.645m Refinance for a Converted London Mansion
Summary Somo provided a £1,645,000 bridging loan at 70% loan-to-value (LTV) to refinance an expiring loan on a converted London mansion. The borrower required an additional nine months to market and sell the property after their existing lender declined to extend the term at the same interest rate. Using Somo’s Standard Bridge product , the refinance was completed in 14 working days , repaying the outgoing lender and releasing £100,000 in additional capital for the borrower
9 hours ago2 min read
Somo records strongest month on record as broker demand drives February surge
Record-breaking ‘lock-ins’ mark a 16% uplift on previous personal best We've just recorded our strongest month for sales since launch, completing our highest ever number of lock-ins in February - a 16% uplift on our previous record - as broker demand for fast, pragmatic funding solutions continues to grow. This milestone followed the launch of Landlord’s Breathing Space, our refinancing product designed to help landlords restructure short-term funding pressures. Despite launc
Mar 182 min read
International Women’s Day: Jade Keval on Mentorship, Training and Women in Specialist Finance
About Jade Keval Jade Keval, Sales Director here at Somo recently spoke to Bridging and Commercial to share her perspective on mentorship, training and the importance of widening access to specialist finance careers to mark International Women’s Day. Working closely with brokers and direct clients, Jade, and he sales team, focuses on building strong commercial relationships while supporting the development of future talent within the specialist finance sector. One of the key
Mar 133 min read
Somo lends £651,000 - Strategic Second Charge Protects a Well-Established Rural Business
A well-established rural business in Worcestershire required a structured refinance to protect trading continuity and redeem an outgoing facility that no longer suited its needs. The Challenge The priority was clear but time-sensitive: refinance cleanly, maintain operational stability and avoid disruption to day-to-day trading. The complexity lay not just in the refinance itself, but in the nature of the security and the coordination required to execute it cleanly. The securi
Mar 42 min read
Building Talent the Somo Way: Inside Our Sales Academy
But making bridging easier doesn’t just come down to great products, it’s about our people - people who understand the detail, the regulation, the structuring, the risk and the relationships that sit behind every deal. That’s why we built the Somo Sales Training Academy.
Mar 33 min read
Somo Delivers Complex First Charge Solution for Family-Run Nursery
TL;DR A well-established day nursery in Hertfordshire needed urgent funding to replace an unsuitable short-term facility, meet payroll deadlines, and inject working capital to support growth. Somo structured and delivered a 12-month first charge bridging loan using third-party residential security. Overview Location: Hertfordshire, UK Facility: 12-month first charge bridging loan Gross loan: £260,000 (net £218,270) Security: Director’s mother’s residential property (third-par
Feb 183 min read
Landlords Need Breathing Space and Somo is Stepping In
Somo has launched the Landlord’s Breathing Space Loan - a property-backed bridging loan for landlords facing Renters’ Rights Act 2025 changes. Get up to 24 months with no monthly payments, loans from £25k–£3m, flexible exits, and asset-led decisions to stabilise cashflow, clear arrears, fund works or refinance.
Jan 283 min read
Case Study: Refinancing a £570k Defaulted Bridge at a Market-Leading Rate of 0.87%
Discover how Somo refinanced a £570,000 defaulted bridging loan with a second-charge facility at 62% LTV, secured on a £2.5m Brighton buy-to-let. Despite the existing loan being in default and accruing default interest, strong security, clean credit, a clear sale exit and additional borrower funds enabled completion at a market-leading 0.87% per month, repaying the previous lender in full and moving the client onto a stable 12-month term.
Jan 232 min read
Somo appoints Lyam Denney as London Relationship Director
Specialist property finance lender Somo has announced the appointment of Lyam Denney as Relationship Director for London, further strengthening its commitment to brokers in the capital and expanding its London-based relationship team to three.
Jan 222 min read
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