Somo is offering brokers 90% off valuation fees on all deals locked in between 1st and 29th August, following a similar promotion last year.
Last year’s campaign led to a 54% rise in locked-in deals, with Somo covering over £126,000 in valuation fees for borrowers.
This year, the lender expects to cover up to £3,000 in valuation fees per deal.
The offer comes after recent rate reductions, with first charge rates starting from 0.69% up to 75% loan to value (LTV) on the open market value (OMV), and second charge rates from 0.85% up to 70% LTV on the OMV.
Jade Keval (pictured), sales director at Somo, said: “Last year, our 90% off Valuations promotion was a huge hit with brokers, enabling deals closed and giving borrowers substantial savings on a cost they can’t avoid.
“This August, we’re bringing it back, and we’re aiming to go even bigger – with free beers to celebrate our pricing cuts, our proven success, and the exciting summer we’ve had so far here at Somo.
“With up to £3,000 in Valuation fees covered, we’re expecting another exceptional response – and we can’t wait to see how it unfolds.”
