The Deal A property investor approached Somo needing £540,000 to secure a mixed-use building at auction in the North West. The opportunity was strong and well priced with scope to increase value through light refurbishment. But there were complications: Tight 28-day auction deadline Historic adverse credit from a previous business venture and a complex income structure Refurbishment element requiring a flexible exit plan At Somo, every credit status is considered. Why make fi

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 to