Somo has launched its latest Black Friday promotion, with last year’s campaign delivering a 43% rise in completed deals and average borrower savings of £2,850.
The lender’s annual offer is now in its fifth year. Brokers and borrowers can choose either a free valuation or free legals, a structure Somo says has helped cement the promotion as its busiest period of the year.
In 2024, the lender committed to covering £318,214 in borrower fees, with savings per case averaging £2,850. The volume uplift compared with a typical month placed last year’s campaign among the strongest the business has seen.
Jade Keval (pictured), sales director at Somo, said: “Our Black Friday event has become something brokers look forward to all year and with good reason.
“We make it easy for them to secure a great deal with market leading rates and LTVs, backed by the fast, friendly and flexible service we’re known for. Why make bridging difficult?”
Somo’s second charge business now represents almost half of its total lending, a position the lender says reinforces its claim of being the sector’s dominant player. Broker participation in the Black Friday event has also grown steadily, with offers rising by around 15% during the promotional window.
The company said the continuing success of the annual campaign reflects its focus on keeping brokers central to its model. Its 360Promise approach, which commits to assessing cases from every angle to find a route to approval, remains a core part of the Black Friday strategy.
This year’s event launches this week, giving brokers access to what Somo describes as exclusive savings, quicker decisions and close support as the market enters one of its busiest seasonal periods.
