A bridging loan is a short-term, property-backed loan designed to provide fast funding while you arrange longer-term finance or complete a transaction.

Our famous Valuation Only™ Product is a lending solution for those who don’t meet traditional lending criteria. We base our lending decision on the value of the security, not the borrower’s credit profile - so we can always look to lend.We offer a solution for those who don't fit traditional lending criteria or evidence income and affordability. Or for clients who simply prefer not to. No proof of incomeNo clean credit.No evidence of use of funds.No fuss, no delays.We lend to clients who have a history of missed payments, defaults, CCJs, IVAs, CVAs, even bankruptcy and insolvency.

We can lend form £27,500 to £3,000,000.However, there is no hard and fast rule as each deal is assessed on its merits. How much your client borrow depends on the value of the property used as a security and other factors including their credit. A guide to our loan-to-values (LTV):On First Charge loans we offer up to 75% LTV of the securityOn Second Charge loans we offer up to 70% LTV of the securityWe can also offer up to 100% of the value where an additional security or equitable (comfort) charges are offered.For example: On a first charge loan, if the property being used as a security is worth £100,000, we can offer you up to £75,000 (75% LTV).To find out exactly how much your client could borrow, submit a case and we'll send you an offer.

Somo's Standard Bridging Loan can be used for any legitimate business purpose, including:Property purchasesAuction acquisitionsBusiness acquisitionsRefinancing existing loansProperty refurbishmentsDevelopment projectsStock and inventory purchasesWorking capitalDebt consolidationIf you're unsure whether your purpose qualifies, speak to our team.

ResidentialSemi-CommercialBuy-to-letHMOsLight and Moderate Refurbs

We can provide a lending decision in as little as 30 minutes, depending on the information available and the complexity of the case.

Timescales vary depending on the transaction, legal requirements and valuation process. However, our streamlined underwriting process is designed to help clients complete as quickly as possible.

Our Valuation Only™ does not require proof of income to lend.We will always look to fund the deal as long as there is an asset (property) that can be used as a the security for the loan and a viable exit strategy. Acceptable exit strategies are: Sale of the security or another propertyPensionFunds due from a businessFunds due from a divorceRefinance onto a high street mortgage, a BTL mortgage or a commercial mortgageInvestmentsSale of other assets

No. Our Valuation Only™ product offers a solution for those who don't fit traditional lending criteria or evidence income and affordability. Or for clients who simply prefer not to.

We may carry out checks later in the process once your application progresses. However, if you’re applying to see how much you could borrow, we won’t run any credit checks or affect your credit score.