Somo: products, terms and eligibility

Somo is a UK provider of bridging loans. The legal entity named on its site is SM1 Capital & Security Limited (trading as Somo), company number 12713865. It is based in Manchester. It gives its founding year as 2014.

Somo is a trading style of SM1 Capital & Security Limited (company number 12713865), established in Manchester in 2014 as one of the UK’s early crowd-funded bridging platforms. It describes itself as a second-generation family of property bridging lenders. It says it began as a small family-run operation and now has a senior team and multiple Manchester premises; the registered office is in Altrincham. It says Deutsche Bank provided a funding line in 2020.

In its own words on scale:

• Says it has lent more than £500 million between 2014 and 2026 (figure on its site in October 2026).

Everything on this page comes from what Somo publishes itself. We show the date we last checked it, and we do not rate or rank lenders.

Somo publishes 5 products for UK businesses. The table above gives the amounts and terms as it states them.

• Classic bridging loan: Borrower selects the term and interest payment schedule (monthly or end of term).

Second charge

Lending behind an existing first charge; Somo’s FAQ gives up to 70% LTV for second charge loans, with additional security allowing up to 100% of purchase price.

Homeowner business loan

Listed as a product for business purposes secured on the borrower’s home; the pages read give no further detail.

Works and renovations

Lending for light to moderate refurbishment. The FAQ says Somo lends against properties needing light to moderate refurbishment.

Below market value

Listed as a product; no further detail on the pages read.

Somo says its finance is used for:

• Business purposes secured on UK property
• Refurbishment and renovations
• Below market value purchases
• Short-term funding where adverse credit has limited other options

Sectors and business types it says it funds:

• Limited companies, LLPs, SIPPs, self-employed, non-UK nationals and expats
• Residential, semi-commercial, buy-to-let and HMO property

Somo publishes these criteria. Meeting them does not mean an application will be accepted: every lender makes its own decision.

• Loans for any legitimate business purpose (unregulated).
• Limited companies, LLPs, SIPPs, self-employed, non-UK nationals and ex-pats listed.
• Credit-impaired applicants listed, including IVAs, CVAs and bankrupts.
• Property in England, Scotland and Wales.
• No upper age limit.

Somo describes its process like this:

1. Apply online or submit a case through a broker.
2. Somo reviews the case and the exit.
3. A RICS valuation is arranged.
4. Underwriting is completed.
5. The loan is secured by a legal charge.

Every application is subject to status and the lender’s own criteria at the time.

A bridging loan is short-term borrowing secured on property, used to bridge a gap until a sale or longer-term finance completes. Interest is often rolled up or retained and repaid with the loan at the end, so the plan for repaying it, known as the exit, matters as much as the property.

Lenders lend up to a share of the property’s value and will want to see that exit. Bridging costs more than long-term borrowing, so it is worth understanding how lenders differ before you compare offers.

Points Somo publishes that are worth knowing:

• All loans are secured over UK property by a short-term mortgage or legal charge.
• Lends against residential, semi-commercial, buy-to-let and HMO property, plus light and moderate refurbishments.
• Says it lends in England, Scotland and Wales.
• Also offers specialist products such as Lifeline loan and Landlord Breathing Space.

Security and guarantees

All loans are secured by a short-term mortgage or legal charge over UK property; on default Somo can repossess and sell. Every application needs at least one viable exit such as sale, refinance, pension funds or other asset sales. Somo says no income documentation is mandatory because interest need not be serviced monthly.

Somo’s site states: “Somo is a trading style of SM1 Capital & Security limited, a company registered in England with registration no.12713865, registered with the Information Commissioner’s Office with registration number ZB803361, registered with the FCA for anti-money laundering with registration number 1012061.”

Protections differ by borrower type and loan size. Most lending to limited companies is not regulated consumer credit, so read the agreement and ask the lender what applies to you.

Other providers of bridging loans with profiles here include TAB, TFG Capital and Westwood Capital Finance. Each profile uses that lender’s own published terms.

The full list, grouped by product type, is in our directory of UK business lenders.

Capzy is a credit broker, not a lender, and gets paid by the lender. One application lets your business compare options across lenders, so you can weigh this kind of facility against the alternatives. You can check your funding options with a soft search that does not affect your credit score. A full application to a lender may involve a hard search, and any offer is subject to status and lender criteria.