Somo has cut rates across all first and second charge bridging products.
First charge rates are now down to 0.69% at up to 75% loan-to-value (LTV) on open market value, while second charge starts from 0.85% with LTVs up to 70%.
Other product features include fast and flexible lending for any business purpose, plus products for all client circumstances.
There are no lender legal fees until completion and no application forms, just an 18-point checklist needed for an offer, usually within an hour.
Jade Keval (pictured), sales director at Somo, 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.”
