March 27, 2025

Exclusive First Look: Somo Prime – A Game-Changer for First Charge Bridging

Fiducia Commercial Network members are getting exclusive early access to a brand-new product from Somo, the specialist lender known for its expertise in bridging finance. Somo Prime, launching this week, is a fresh, highly competitive first-charge lending solution designed specifically for prime borrowers.

Why This Matters for Brokers

Until now, Somo has made its name as a leader in second-charge bridging finance, providing brokers with innovative, flexible solutions. Now, with the launch of Somo Prime, brokers can access the same level of expertise, competitive pricing, and streamlined processes for their first-charge clients.

With market-leading rates from 0.89% and LTVs up to 75%, Somo Prime is tailored for borrowers with:

  • Clean credit files
  • Proven income
  • A strong, evidenced exit strategy
  • Security assets in prime locations

This product is built to simplify the bridging process, with benefits that make it easier and more cost-effective for both brokers and borrowers. Network members get first access to:

  • No lender legal fees until completion
  • No completion, no fee guarantee
  • Direct access to an underwriter from day one
  • Loans based on Open Market Value, not restrictive 90 or 180-day valuations
  • An entirely paperless process up until completion
  • One-hour offer turnarounds with just an 18-point checklist
What This Means for Fiducia Commercial Network Members

Somo Prime represents a powerful new tool for brokers in our network to offer their clients. Access to exclusive early product launches like this is just one way Fiducia Commercial Network helps members stay ahead of the competition.

“Brokers have been asking us to bring the same competitive edge from our second charge lending into first charge – and that’s exactly what we’ve done. We’re confident Somo Prime gives brokers an exceptional new option for prime clients.”

Jade Keval, Sales Director at Somo

Network members can use this exclusive window before Somo Prime launches to the wider market. To learn more, contact Somo directly on 0161 312 5656 and make the most of this early access opportunity.

About Somo

Somo offers quick and simple bridging loans secured over UK property. We specialise in second charge loans, offering market leading rates and provide tailored solutions to meet the diverse needs of borrowers.

We understand that traditional lending can often be a complicated and lengthy process. With mainstream lenders continuing to tighten their lending restrictions, many borrowers who don’t fit the standard lending criteria are left seeking alternative options. 

Our mission is to change the perception of bridging loans, proving they can be as straightforward as normal as applying for a loan from a high street bank and a viable option for a wide range of borrowers. 

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About Fiducia Commercial Network

Fiducia Commercial Network is a commercial finance ‘Appointed Representative’ network created to allow independent firms to provide commercial property finance and trading business finance options to their existing client base and network.

Joining the network provides opportunities for professional brokers to offer a full range of commercial finance solutions by acting as an Appointed Representative (AR) with the full support of the Fiducia Commercial Network team.

The Fiducia Commercial Network membership includes FCA authorisation and reporting, PI insurance, and NACFB membership, plus business, compliance, finance, system, and admin support from a company with over 20 years’ experience in commercial finance.

If you’d like to discuss joining Fiducia Commercial Network or you’d like to apply to become an Appointed Representative…

SPEAK TO OUR TEAM

 

To discuss Fiducia Commercial Network or to apply to become an Appointed Representative email the team via by clicking this link.

For all media and marketing enquiries contact –  pr@fiduciagroup.co.uk