Somo has announced that it has reduced rates across its first- and second-charge bridging products by 0.25% following the Bank of England's decision to lower the base rate to 3.75% on 18 December.
The specialist UK bridging lender now offers first-charge bridging from 0.65%, with second-charge pricing starting at 0.69%. The cuts aim to support landlords, buy-to-let investors and businesses seeking short-term funding.
The UK bridging finance market has shown continued strength despite economic uncertainty. Bridging lending reached £209.4m in Q3 2025, rising nearly 5% from the previous quarter. Application volumes climbed 11% year-on-year throughout 2025, according to some reports, while average pricing declined as competition increased.
Somo positions the rate adjustments as part of its broader commitment to fast and flexible lending for business needs. The lender continues developing its product range to address current market challenges.
"Somo welcomes the Bank of England's rate decision, which will help relieve pressure on borrowers," said Jade Keval, sales director at Somo (pictured). "And with these cuts, Developers, landlords and businesses can access the speed and flexibility we're known for at even more affordable rates."
