SoMo has launched an early Black Friday deal, giving borrowers a 90% refund on valuation costs over a 24-hour period.
The bridging firm says loans must be locked in and paid for before midnight on Sunday 21 November, while SoMo Family members get exclusive access to the discount from Thursday 18 November.
SoMo managing director Jamie Jolly says: “The last time we ran our Black Friday event our business development manager’s phones were ringing off the hook.
“We locked in a record number of deals within the 24-hour window, without compromising the high-quality customer service of SoMo, which is always our priority.
“We want to make sure all our customers are getting the best deals from SoMo and this includes our borrowers. This limited-time-only deal is to say a big thank you to them.”
Last month, the Greater Manchester-based firm announced a target to lend £250m over the coming year, with plans to open a new office in London to attract new business.
It says the new office will have a dedicated London-based underwriting team with “experience and expertise in the highly competitive London bridging space”.
In August, the company brought a bridging loan product to market featuring a procuration rate it brands ‘favourable’.
Brokers will benefit from either a 1.75% arrangement fee or a 1.5 procuration fee.
The new loan, named ‘Somo300k+’, is available to individuals and limited companies for residential, buy-to-let, houses in multiple occupation and semi-commercial properties at up to 75% LTV.