It is known for valuation only and second charge loans
Bridging lender SoMo has joined the lender panel of mortgage tech provider finova.
As a result of the partnership, SoMo has become one of a select panel of lenders available via finova Payment and Mortgage Services, giving finova’s brokers the opportunity to offer SoMo’s products such as valuation only and second charge loans.
In addition, SoMo and finova will both provide broker support with enhanced technology, improved procurement fees, and expert customer relationship management.
“We’re excited about this new partnership, not only because it will give us direct access to brokers who can benefit from our award-winning products, processes, and customer service, but also because we share the same vision as finova,” Jade Keval (pictured), sales director at SoMo, commented. “We are both solutions focussed providers that work hard to support and meet the needs of brokers and their clients.
“SoMo is steadily growing and relationships like this are an important part of our growth plan. Like finova, we’re constantly looking for ways to simplify the way we do business. It’s the reason why our new brand proposition is ‘why make bridging difficult?’”
Melanie Spencer, head of finova Payment and Mortgage Services, added that they, too, were looking forward to a long-lasting working relationship with SoMo.
“SoMo is a lender that makes things happen because the team is given the flexibility to complete on a wide variety of loan scenarios, even when borrowers don’t fit the standard lending criteria,” Spencer said. “This will provide our broker clients with even more options when they’re looking for deals.
“We’ve been impressed by SoMo’s friendly and knowledgeable team, the versatility of its products and its funding lines.”
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