The month-long initiative which launched in May pledged to refund borrowers one month of interest upon repayment of loans, with the discount applying on both serviced and retained facilities, saving borrowers up to over 1% of their interest.

Jade Keval, sales director at Somo (pictured above), said: “Initiatives like this are beneficial for brokers and their clients, and it’s results like this that prove their appeal.

•   The cost gap between BTL and bridging is 'ever narrowing'
•   Somo joins Finova's lending panel
•   Somo completes 1,000 bridging loans

“While we can provide borrowers a significant saving, we also hope our offers bring in more business for our brokers.

“By being committed to making business easier and better for our brokers, this in turn makes for happy [and] satisfied clients who want to work with them again.

“It has been brilliant for Somo to see our busiest and best month ever, especially so soon after other record-breaking months this year."