SoMo commits over £50,000 for Free Legals initiative

SoMo has committed to paying over £50,000 to cover borrowers’ legal fees as part of its limited-time ‘Free Legals’ initiative.

Launched earlier this March, the offer will see the bridging lender pay up to £2,000 of legal fees if brokers lock in a deal by midnight on Monday, 4th April.

In addition, SoMo Family members will be entered into a prize draw to win for themselves the cost of the legal fees being paid to their borrower.

Jamie Jolly, managing director at SoMo (pictured above), said: “This is proving to be a really successful initiative that could even lead to SoMo’s best ever month. 

“We designed the deal to enable brokers to provide borrowers with a motivating and real incentive, and, given the cost of living squeeze, it’s little wonder it’s gone down a storm.  

“Feedback has been amazing, with one broker telling us their client has been able to use their legal fees savings to cover a much-needed holiday.

“We’ve committed over £50,000 and expect this to rise significantly in the next week as the initiative is really helping brokers get deals over the line.”

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