SoMo Free Legals deal is proving a success with over £50,000 of legal fees committed – and still one week to go!
As part of its legal fees ‘lock-in’ deal bridging loan firm SoMo has already committed to paying over £50,000 towards borrowers’ legal fees and there’s still one week left of the initiative to go.
Launched on 1 March, the deal will see SoMo pay up to £2,000 of legal fees if brokers ‘lock-in’ a deal by midnight on Monday 4 April.
SoMo’s managing director, Jamie Jolly (pictured) said: “This is proving to be a really successful initiative that could even lead to SoMo’s best ever month.
“We designed the deal to enable Brokers to provide Borrowers with a motivating and real incentive, and given the cost-of-living squeeze, it’s little wonder it’s gone down a storm.
“We’ve committed over £50,000 and expect this to rise significantly in the next week as the initiative is really helping Brokers get deals over the line.
“Feedback has been amazing, with one broker telling us their client has been able to use their legal fees savings to cover a much-needed holiday.
“The great thing about this deal is that SoMo doesn’t ask for legal fees up front so if Borrowers don’t complete, they’ll never have to put their hands in their pockets for legals and if they do, they’ll get up to £2,000 back.”
In addition to the newly launched ‘lock-in’ deal, SoMo Family members have the added bonus of being entered into a prize draw to win, for themselves, the cost of the legal fees being paid to their Borrower.
“With only 51 members in the SoMo Family, there’s a good chance of winning up to £2,000!” added Jolly.
