Lender's Black Friday promotion still ongoing
Specialist lending firm Somo Bridging has reduced rates across its entire product portfolio, including its popular valuation only and second charge product.
“The rate reduction is across all our portfolio including second charge, which makes up over 50% of our current lending, thanks to our favourable terms which allows us to lend to almost any borrower profile, circumstance or scenario,” said Jade Keval (pictured), sales director at Somo Bridging.
Earlier this month, Somo offered borrowers a 90% refund on valuations as part of its Black Friday 2023 event. According to the lender, last year’s one-day-only Black Friday event resulted in a 400% increase in deals locked in. It now expects an even bigger number this year with the promotion continuing for almost an entire month.
“We’re always looking for ways to help our broker community complete deals and hope this rate reduction, which is effective immediately, will do just that,” Keval added. “In a year when the cost-of-living crisis has hit harder than ever and with Christmas just around the corner, we expect a cut in interest rates will be well received by borrowers.
“Savvy brokers that lock in a deal over the next few days will benefit from our reduced rates and our Black Friday promotion, bringing massive savings to clients.”
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