Somo Bewertungen 

Antwort von Somo

20. Aug. 2026

We’re sorry to hear you’ve been disappointed with your experience. Unfortunately, we’ve been unable to identify your case from this review, but we take feedback like this very seriously.

We’d really appreciate the opportunity to look into this further and better understand what happened, learn for this and see if we can help you out in any way. Please contact us at with your details so we can investigate and try to resolve your concerns at complaints@somo.co.uk.

Antwort von Somo

22. Mai 2026

We’re sorry to hear you’ve been disappointed with your experience. Unfortunately, we’ve been unable to identify your case from this review, but we take feedback like this very seriously.

We’d really appreciate the opportunity to look into this further and better understand what happened, learn for this and see if we can help you out in any way.

Please contact us at with your details so we can investigate and try to resolve your concerns at brokers@somo.co.uk

Antwort von Somo

14. Mai 2026

We’re sorry to hear that you’ve been disappointed with your experience. Unfortunately, we’re unable to identify your matter from this review, and we take concerns like these very seriously.

We would appreciate the opportunity to look into this further and better understand what happened. Please contact our team directly at brokers@somo.co.uk with your details so we can investigate and work towards resolving them.

Antwort von Somo

14. Mai 2026

We take feedback seriously and have carefully reviewed the points you’ve raised. Based on a full review of the underwriting, legal process and redemption, we would like to clarify the following:

1. Overall outcome and timeline
Your loan proceeded to completion on 12 November and was subsequently redeemed early in April 2026.
While you reference “nearly seven weeks wasted”, the case completed within 23 working days from receipt of the correct solicitor details. This is within normal expectations for this type of transaction.

2. Solicitors and delays
Your solicitor was client-appointed. Following instruction, documentation was issued promptly and the case progressed without delay on our side.
Several issues arose during the process which required clarification, including:
Late notification of a new company director
Discrepancies relating to the leasehold title and ownership
A refusal from your solicitor (29 October – 11 November) to provide standard undertakings required to complete
We do not complete loans without these undertakings. The loan completed on the same day they were provided.

3. Legal process and fees
It is standard practice for the borrower’s solicitor to register the charge, as they are responsible for verifying client identity. This requirement is clearly set out at the outset.
In this case, we also registered the debenture at Companies House as your solicitor declined to do so. Any additional fees charged by your solicitor are outside of our control.

4. Underwriting queries
The questions raised during the process were necessary and proportionate, based on new or conflicting information received. These were not “pointless”, but required to ensure the loan could proceed safely and correctly.

5. Company structure and charges
The loan was made to your limited company, and the associated security (including a debenture/floating charge) is standard for this type of transaction.
At no stage during the process was this raised as a concern. Alternative structures were available but were not pursued.

6. Valuation
The valuation was carried out by an independent, RICS-qualified valuer using comparable evidence from similar properties on the same road.
No supporting evidence was provided to substantiate the higher valuation you have referenced.

7. Redemption and communication
We can confirm the redemption process was handled promptly and in line with expectations:
Redemption statement issued within 24 hours of request
Funds received and acknowledged on Friday 24 April 2026
Lock-in fee refund processed and paid on Wednesday 29 April 2026
All emails responded to on the same or next working day
For clarity, no demands were made during the course of the loan, and the loan was redeemed early.

Summary
Having reviewed the case in full, we do not believe the issues described reflect how the transaction progressed. Where challenges arose, these were addressed appropriately and, in many cases, were driven by factors outside of our control.

Antwort von Somo

14. Mai 2026

As you are not the borrower, it would not be appropriate for us to comment in detail on specific matters, in order to protect your father’s personal information and comply
with data protection obligations. However, we can confirm the following:

The loan was entered into voluntarily by your father, who executed all relevant documentation. Prior to completion, he obtained independent legal advice and
confirmed that he understood the terms and conditions of the agreement, including his repayment obligations.

This facility was a short-term bridging loan for business purposes. As such, it was assessed based on the proposed exit strategy rather than traditional income-based affordability measures.

The property is owned by your father and, at the time the loan was completed, it was confirmed as being tenanted.
The legal charge was validly executed and registered, and we are satisfied that all necessary legal formalities were complied with, including the provision of independent legal advice where required.

The current outstanding balance reflects interest, fees, and any applicable default charges applied in accordance with the agreed contractual terms.

We do not accept any allegations of undue influence, exploitation, or the existence of an unfair relationship. The transaction was conducted transparently and in line with applicable legal and regulatory standards.

As the loan remains in default, we are entitled to enforce our security. This may include taking possession of the property and proceeding with a sale in order to recover the outstanding debt.

Antwort von Somo

11. März 2026

Dear Mr M,

Thank you for taking the time to share your concerns. We are sorry to hear that you feel your experience was stressful, and we would like to address the points you have raised.

First and foremost, we must clarify that this loan was not advanced for personal medical treatment. You gave a declaration that the loan applied for and documented as a business-purpose loan and it was assessed and underwritten on that basis. While we appreciate the personal circumstances you have described, the loan agreement and supporting documentation clearly state its commercial purpose. Our administration of the loan was therefore conducted in accordance with its business classification and the contractual terms agreed at completion.

Regarding communication, we categorically reject any suggestion that delays were tactical or intentional. At no point is it in our interest to delay a redemption or repayment.
The additional charges were applied strictly in accordance with the loan agreement after the contractual redemption date had passed without repayment. These charges are clearly set out within the original facility documentation you signed and are not applied arbitrarily. You have previously received a full explanation of these terms upon which to take independent advice on prior to entering the facility.

At you and your broker’s request, we provided revised terms for an extension reflecting the fact that this was a new contractual period. An extension is not simply a continuation of the original agreement but a variation, including interest and fees applicable at that time. You were under no obligation to proceed and were free to seek independent advice prior to signing.

Our intention throughout was to provide a structured solution within the parameters of the loan agreement and lending policy. At no stage were terms altered after signing, and all applicable charges were disclosed within the extension documentation before completion.
Finally, we offered a discount to you, which you accepted and redeemed your loan. You accepted the figure in full and final settlement.

We take all feedback seriously and will reflect on your comments regarding communication. However, we must respectfully disagree with the characterisation of our conduct as rigid or tactical. We believe the loan was administered in accordance with the agreed contract.

Regards,
The Somo Team.