Somo reduces rates across first and second charge product range
By Tara SammonsSomo Bridging has announced significant rate reductions across all of its first and second charge products.
Section: Products
First charge rates have fallen to 0.69% with up to 75% LTV, and second charge rates are now available from 0.85% with up to 70% LTV.
Somo said these updates have been made in response to a surge of new loan applications in Q1 2025—a notable phenomenon in what is typically a quiet quarter, according to the latest BDLA research.
Somo was recently recognised as Best Regional Bridging Lender of the Year at this year’s B&C Awards.
Commenting on the announcement, Jade Keval, sales director at Somo (pictured above), said: “Bridging is growing at pace, but speed, certainty and flexibility still rule.
“We’ve sharpened our pricing to remain ahead of the curve and paired it with features brokers tell us they really need."
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