SoMo offers free legals throughout March
SoMo has launched a free legal fees offer for March.
The peer-to-peer lending platform and specialist bridging lender said that it will pay up to £2,000 in legal fees if brokers can lock in a deal by midnight on 4 April.
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“As SoMo doesn’t ask for legal fees up front, it’s a win-win situation,” said Jamie Jolly (pictured), managing director of SoMo.
“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.”
SoMo borrowers will also be entered into a prize draw to win the cost of the legal fees being paid to them.
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“With only 51 members in the SoMo family, there’s a good chance of winning up to £2,000!” Jolly said.
In November, the platform launched a Black Friday Weekend sale in which it was giving borrowers a 90 per cent refund on valuation costs over a 24-hour period.