44. Social Money (SoMo)


Company: Social Money (SoMo)

Founder(s): Louis Alexander (Owner and Director)

Website: https://www.somo.co.uk

Business: SoMo offers peer-to-peer bridging loans, secured with UK property, helping people to invest and borrow.


About SoMo


Founded in 2014, Social Money (or SoMo), describes itself as “the social way to borrow and lend secured”. The company offer bridging loans, a type of short-term, peer-to-peer lending, secured with UK property – all loans underwritten and fully redeemed by the SoMo team.

SoMo offers both borrowing opportunities for those in need of short-term bridging loans, and investment opportunities for those wanting to provide said loans to borrowers. SoMo investors are allowed to choose the borrowers they’d like to fund, as well as the security to take. As previously mentioned, loans are secured by UK property, via either a legal charge or a mortgage. This offers great security to investors, as what they’re owed in repayments can be collected by repossession of the security if the borrower fails to keep up with repayments.




For borrowers, SoMo offers loan amounts ranging from £25,000 to £5,000,000, with rates from 0.49% per month, and LTVs of up to 75% for property and bridging loans. Borrowers are also able to choose the term of the loan, and also when they’d like to pay the interest on it.

Loans are approved subject to valuations and underwriting, which can come through in just 30 minutes from borrower’s applications. SoMo have been known to take as little as 24 hours to complete loans.

So far, SoMo have lent more than £140,000,000, and hold an Average Customer Rating on feefo of 4.3/5 stars.