Louis Alexander

SoMo launches exclusive broker club

Specialist lender SoMo has launched an exclusive new member initiative, SoMo Family.

The club will only be accessible by invitation for people with experience in bridging and a good volume of business.

Currently, 38 brokers from the lender’s network have been selected to join SoMo Family, with the founding members set to be limited to 60.

Those who join SoMo Family will have access to the lender’s new and exclusive funding line and OMV lending for first and second charge facilities.

They will be able to secure loans at up to 75% LTV, with rates starting from 0.49%.

The membership also offers:

  • an enhanced procuration fee
  • a dedicated senior underwriter and senior case manager
  • priority access to SoMo’s legal partner, JMW Solicitors
  • guaranteed funds (subject to underwriting) once a deal is locked in

According to SoMo, the lending process will also be streamlined for members, with no application forms or portals and remaining paperless until completion.

"All our broker and introducer relationships are special, but we felt some needed to be recognised more than others,” said Louis Alexander, CEO at SoMo (pictured above).

“With so many other lender clubs and panels around, we wanted to create something truly special that shows how we feel about each other. 

“Our family, like any good family, will receive many benefits by sticking together and backing each other. 

“When you become a SoMo Family member you're more than a club, more than a panel, more than a group – you're part of our family.”

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