Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment, and you are unlikely to be protected if something goes wrong. Take 2 mins to learn more.

Our products

Somo Prime

Introducing our lowest rates and highest LTVs for prime locations and prime clients with our new Prime product. Developed alongside a panel of Landlords and Brokers, Somo Prime has a whole host of benefits.

Interest - from 0.89%

LTV - up to 75%

Low Rate

Our Low Rate product is aimed at standard cases and clients who can evidence clean credit, have an evidenced exit, proof of income and use of funds.

Interest - from 0.92%

LTV - up to 70%

Valuation Only

Our famous Valuation Only product makes things quick and easy. We lend against the value of the property, not the Borrower's profile. No proof of clean credit, proof of income, funds or affordability or evidenced exit required.

Interest - from 1.15%

LTV - up to 70%

Representative example:
Based on interest only bridging loan. If you borrow £100,000 over 1 year at a rate of 0.6% pcm / 7.2% p.a fixed for the term, you will pay 12 instalments of £600 per month and a total amount payable of £109,850. This includes repayment of the net loan, interest of £7,200, an arrangement fee of £2,000 and administration fee of £650. The overall cost for comparison is 9.85% APRC.

All Somo loans are unregulated. Any property used as security is at risk of repossession if repayments are not kept up.

Up to
75% LTV.

Our criteria

A simple and transparent guide to our criteria.

Who?
  • No upper age limit
  • Limited companies
  • SIPPs
  • LLPs, ex-pats
  • Non-UK nationals
  • Self-employed
  • IVAs
  • CVAs
  • Credit Impaired
  • Owner Occupiers
  • Bankrupts.
How much? Minimum: £27,500
Maximum: £3,000,000
How long? Minimum: 1 month
Maximum: 24 months
Where? England and Wales
Why Somo?
  • Loans from £27,500 to £3,000,000
  • Any status accepted, loan can be used for many purposes,
    arranged quickly Property and bridging loans up to 70% LTV (loan to value)
  • 1st, 2nd, 3rd and Equitable charges
  • You choose the loan term and
    when to pay the interest
  • No funding delays
  • 100% funding with additional security
  • 30 minutes decision in principle

Risk Warning

Somo loans are unregulated. Any property used as security is at risk of repossession if you do not keep up with your payments. If you are unsure about any aspect of the information provided by the company, you should seek advice from an independent financial adviser.

Representative example: Based on interest only bridging loan. If you borrow £100,000 over 1 year at a rate of 0.6% pcm / 7.2% p.a fixed for the term, you will pay 12 instalments of £600 per month and a total amount payable of £109,850. This includes repayment of the net loan, interest of £7,200, an arrangement fee of £2,000 and administration fee of £650. The overall cost for comparison is 9.85% APRC.

Loan purposes

Bridging Loans

LTV - up to 70%

1st Charge Loans

LTV - up to 70%

2nd Charge Loans

LTV - up to 70%

Equitable Charge Loans

LTV - up to 60%

Auction Finance

LTV - up to 70%

Refurbishment Finance

LTV - up to 70% and 100% cost of works

Representative example:
Based on interest only bridging loan. If you borrow £100,000 over 1 year at a rate of 0.6% pcm / 7.2% p.a fixed for the term, you will pay 12 instalments of £600 per month and a total amount payable of £109,850. This includes repayment of the net loan, interest of £7,200, an arrangement fee of £2,000 and administration fee of £650. The overall cost for comparison is 9.85% APRC.

Business Funding

LTV - up to 70%

Below Market Purchase

LTV - up to 100%

Development Exit

LTV - up to 70%

Portfolio & HMO Finance

LTV - up to 70%

Re-bridging a Bridge

LTV - up to 70%

Bankruptcy or Insolvency

LTV - up to 70%

Why choose somo

Highest LTVS – LTVs up to 75%

All credit statuses accepted - we will never reject a case based on the client’s individual circumstances. No prejudice on clients with CCJs, missed mortgage payments or being in a defaulted mortgage contract.

No up-front legals

We do not require clients to pay costly legal undertaking fees, instead our clients can opt to deduct the legal fees at completion. Which means if we don’t complete, we foot the bill.

Speed

We are quick. In most cases, it takes less than one hour from 18 points to a fully credit-backed offer, subject to Legals, Underwriting and due diligence.

Get a decision in principle in less than 30 minutes.

  • No credit checks required.

Or alternatively, talk to one of our expert team:

0161 312 56 56

Any questions?

Borrowers: loans are unregulated. Any property used as security is at risk of repossession if you do not keep up with your payments. If you are unsure about any aspect of the information provided by the company, you should seek advice from an independent financial adviser. The source of information is the audited and management accounts in the preceding Year End. Terms apply.