SOMO has launched a new product for major borrowers with interest rates of 0.89% and loan value (LTV) up to 75%.
SOMO PRIME is suitable for borrowers with clean credit documents, proven revenue, reliable and proven exit strategies and secure assets.
The lender said the new product is a “big step forward” as it aims to bring the same innovation, interest rates and appetite as the second alleged loan product.
“We have named it on the second alleged loan, but brokers have been asking us to bring the same competitive advantage for the first paid loan,” said Jade Keval, director of sales at Somo.
“While we always offer our first fee loan, Somo Prime is the way to improve the bar – providing brokers with a stronger, more attractive solution.
