Somo teaming up with finova

June 2, 2023 by Brendan O'Neill

Lenders

Mortgage lender Somo has announced that it will be joining the lending panel of financial software company finova, which will make it easier for advisors to get access to its various products.

Somo is a specialist lender that offers the likes of Second Charge and Valuation Only products. It is one of just a small group of lenders that finova has invited to join its Payment and Mortgage Services panel. Somo hopes that the link-up will enable advisors to get support, as well as improve both their customer relationship management and fees for procurement, leading to more successful businesses.

Those advisors that seek out Somo products through finova Payment and Mortgage Services will be able to talk to the Relationship Directors employed by Somo. It has these for all regions of the country.

Speaking to Financial Reporter, the Sales Director at Somo, Jade Keval, stated that the two companies had similar ideas for the future and that Somo was happy to open up access to its products to more advisors through the partnership.

She then went on to say:

“Somo is steadily growing and relationships like this are an important part of our growth plan. Like finova, we’re constantly looking for ways to simplify the way we do business.”

Melanie Spencer from finova added that the move would give advisors more product options.

Access to more specialist loans is good news for advisors with CeMAP training, as ever greater numbers of their clients are people who will not be eligible for loans from the big lenders.