In an exclusive end-of-summer sale, specialist lending firm, SoMo Bridging, is offering borrowers a reduced lock-in fee from £350 to £99.
As part of its commitment to helping brokers secure more deals, SoMo is reducing its lock-in fee to just £99, if borrowers pay the discounted fee between Monday 22nd August and Wednesday 31st August.
Jade Keval (pictured), sales director at SoMo said: “With interest rates rising in the past and coming months, we wanted to support brokers with an exclusive flash sale that could help clients move forward with borrowers who are becoming a little more cautious.
“During our August Bank Holiday sale, we’re reducing our lock-in fee for borrowers to secure their offer with SoMo, for just £99.
“We hope it will provide an incentive for borrowers and brokers alike, but they must lock-in quickly as this offer is for a limited time only.”
Interest rates have recently been increased to 1.75% to help tackle inflationary pressures that are gaining a foothold in the UK economy.
“As expected, we’re following the Bank of England interest rates and the responses of mortgage lenders very closely. With an uncertain outlook, we want to do what we can to keep the market as buoyant as possible for as long as possible,” continued Keval.
“We’ve always been known as a solutions-based lender and we’ll continue to find ways to support our broker community; our summer sale is just one of the ways.
“The Bank of England believes it needs to act forcefully to tackle inflationary pressures, so it’s a good time to remind our broker network that we offer second charge loans for any business purpose to help their borrowers through the potentially challenging times ahead.”
