Bridging loan firm SoMo has launched a new deal that will see it pay up to £2,000 of legal fees if brokers ‘lock-in’ a deal by midnight on Monday 4 April.

Jamie Jolly (pictured), SoMo’s managing director, said: “As SoMo doesn’t ask for legal fees up front, it’s a win-win situation. 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 – what’s not to love?

“We work closely with our brokers and fully understand the broker–borrower relationship, which is why we’ll continue to provide incentives that get deals over the line. borrowers won’t only benefit from a brilliant deal but also our range of innovative products and first-class customer service.”

In addition, 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.

Jolly added: “With only 51 members in the SoMo family, there’s a good chance of winning up to £2,000.”