Somo Bridging has launched a new deal today that will see it pay up to £2,000 of the lender legal fees if brokers or borrowers ‘lock-in’ a deal by midnight on Tuesday 28 February.

In a similar promotion in 2022, Somo said it saved borrowers over £25,000 in lender legal fees as part of its Free Legals incentive and it aims to replicate its previous successes this month.

Jade Keval (pictured), Somo’s sales director, said: “Last year, our Free Legals campaign was highly successful and, after our famous Black Friday offer, was our second most popular promotion overall. This is because it has huge value to both brokers and borrowers alike.

“For brokers, it’s a great incentive to get a deal over the line, and for borrowers, they get up to £2,000 back when they complete. We never ask for legal fees up front so if they don’t complete, they don’t have to put their hands in their pockets at all.

“We refunded thousands back to borrowers last year so it’s easy to see why there was huge appetite for us to run this again and we’re looking to smash this figure in 2023 with the help of our new and talented recruits.

“We work closely with our brokers and fully understand the broker–borrower relationship, which is why we’ll continue to provide incentives such as this one. And not only will borrowers benefit from a brilliant deal, but also our range of innovative products and first-class customer service.”