Somo has announced rate reductions of 0.25% across its key first and second charge bridging products, aimed at supporting landlords, buy-to-let investors and UK businesses seeking fast, short-term funding.
The changes follow the Bank of England’s decision to reduce the base rate to 3.75% on 18th December.
As a result, Somo’s first charge bridging rates now start from 0.65%, with second charge pricing reduced to 0.69%.
The lender said the move reflects a focus on affordability and certainty at a time when borrowers are navigating cost pressures and a more cautious economic environment.
Jade Keval, sales director at Somo, said: “Somo welcomes the Bank of England’s rate decision, which will help relieve pressure on borrowers.
“And with these cuts, developers, landlords and businesses can access the speed and flexibility we’re known for at even more affordable rates.”
The announcement comes as the UK bridging market continues to show resilience despite wider economic headwinds.
Industry data shows bridging lending rose to £209.4m in Q3 2025, up nearly 5% quarter-on-quarter, while application volumes across 2025 increased by around 11% year-on-year as pricing gradually softened amid stronger competition.
