Somo, the peer-to-peer lender providing secured bridging loans, has joined Finova’s lending panel.
Finova is a mortgage and financial savings know-how supplier that works with over 3,000 brokers. Collectively they are going to present dealer assist with market main know-how, improved procurement charges and buyer relationship administration, Somo stated.
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“We’re enthusiastic about this new partnership,” stated Jade Keval, Somo’s gross sales director.
“Not solely as a result of it is going to give us direct entry to brokers who can profit from our award-winning merchandise, processes and customer support, but additionally as a result of we share the identical imaginative and prescient as Finova. We’re each options focussed suppliers that work exhausting to assist and meet the wants of brokers and their purchasers.”
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Somo has turn into certainly one of a choose panel of lenders accessible through Finova’s cost and mortgage providers providing, giving the panel’s brokers the chance to supply their purchasers Somo merchandise, similar to Somo’s valuation solely and second cost loans.
Earlier this yr, Somo reached the milestone of over £250m lent up to now.
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“Somo is a lender that makes issues occur as a result of the crew is given the flexibleness to finish on all kinds of mortgage eventualities, even when debtors don’t match the usual lending standards,” stated Melanie Spencer, head of Finova’s cost and mortgage providers.
“We’ve been impressed by Somo’s pleasant and educated crew, the flexibility of its merchandise and its funding strains, and we’re trying ahead to a long-lasting working relationship that ensures our purchasers get what they want, after they want it.”