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At Auction Finance, we make the process of securing bridging loans with Somo seamless and stress-free. This guide explores Somo’s loan features, benefits, and how our expertise can help you achieve your property goals.
When you work with Auction Finance, you gain:
From £27,500 to £3 million, catering to both small and large projects.
Flexible terms up to 24 months, ideal for short-term financing needs.
Up to 75% LTV, with the possibility of 100% funding when additional security is provided.
Starting at 0.71% per month, offering cost-effective borrowing solutions.
Somo considers applications from a wide range of borrowers, including those with adverse credit.
We assess your property finance needs and determine whether Somo’s bridging loans are the right fit.
Our team ensures your application includes:
We handle the submission process and communicate directly with Somo, ensuring quick decisions.
Once approved, funds are typically released quickly, often within days.
Scenario: An investor wins an auction property and needs £300,000 to complete the purchase within 28 days.
Solution: Auction Finance works with Somo to secure a bridging loan within a week, ensuring the investor meets the deadline.
Scenario: A landlord plans to refinance an HMO based on rental yield rather than bricks-and-mortar valuation.
Solution: Somo offers a tailored loan, enabling the landlord to refinance and optimise rental income.
Scenario: A developer purchases land for a small residential project and requires short-term funding for planning approval.
Solution: Somo provides a bridging loan, repaid once the developer secures long-term development finance.
Ans :Somo specialises in unregulated bridging loans, ideal for investment and commercial purposes.
Ans: Somo typically releases funds within days of approval, making them ideal for time-sensitive transactions.
Ans: Yes, Somo considers borrowers with adverse credit histories, focusing on the property and exit strategy.
Ans: Somo provides up to 75% LTV, with higher funding possible when additional security is offered.
Ans: Somo offers loans starting from £27,500, catering to smaller investment projects.
(C) 2025 Auction Finance is a trading name of Mortgage Knight Ltd