Somo Bridging has reported that last month was its best month ever for business.

The specialist lending firm’s ‘One Month Interest Free’ promotion in May resulted in it surpassing its previous record for number of deals in a month by over 12%, and saw an additional 11% completions within a month than its previous record.

As part of the month-long initiative in May, Somo pledged to refund borrowers one month interest upon repayment of the loan, with the discount applying on both serviced and retained loans, saving borrowers over up to 1% of their interest.

Jade Keval (pictured), Somo’s sales director, said: “Initiatives like this are beneficial for brokers and their clients, and it’s results like this that prove their appeal. While we can provide borrowers a significant saving, we also hope our offers bring in more business for our Brokers.

“By being committed to making business easier and better for our brokers, this, in turn, makes for happy, satisfied clients who want to work with them again. It has been brilliant for Somo to see our busiest and best month ever – especially so soon after other record-breaking months this year.

“At Somo we like to do things differently and the One Month Interest Free offer is unique in the lending world. We have a great team talking to brokers every day to find out what makes their clients tick, and it’s because of these strong relationships that we can ascertain what will strengthen their arsenal when it comes to winning business.”