In what it claims is an industry first, bridging lender SoMo has launched a ‘First Month Interest Free’ deal for clients of brokers that ‘lock-in’ a deal with SoMo throughout June.

As part of the month-long initiative, SoMo is treating clients to their first month interest-free and the discount will apply to both serviced and retained loans.

Daniela Gallucci (pictured), SoMo’s head of marketing, said: “We believe this borrower-focussed initiative is the first of its kind in the lending world and we hope our broker partners will be excited as we are to speak to clients about it.

“We’re always looking for ways to give back to our brokers and their clients, especially in light of the current financial climate. And what better way to say a big thank you for their business.

“At SoMo we make it our mission to find better ways to lend and support broker partners but just like our Great British Summer, this one won’t last for ever, so we’re encouraging brokers to act quickly and contact us about any and all deals currently on their desks.”