Somo overcomes planning hurdle to complete £400,000 portfolio expansion loan

16 July 2026

Somo has completed a £400,000 bridging loan that enabled a landlord to expand their property portfolio after identifying a pragmatic solution to a planning issue that could have delayed the transaction.

The six-month Low Rate Plus facility was provided at 70% loan-to-value and secured against three semi-detached buy-to-let properties in South Manchester.

During underwriting, a valuation revealed that one of the security properties had previously been converted into two self-contained flats without evidence of the necessary planning consent.

Rather than requiring replacement security or delaying completion while further valuations were obtained, Somo's underwriting team worked closely with the valuer and legal representatives to fully understand the circumstances and implement appropriate legal protections, including an indemnity policy.

The approach enabled the lender to proceed using the original security package while maintaining a compliant and responsibly underwritten transaction.

As a result, the borrower was able to complete their onward property purchases on time and continue expanding their portfolio without disruption.

Joe Cash, Senior Underwriter at Somo said:

"Not every property transaction fits neatly into a standard lending policy. Our role is to understand the whole picture and assess each case on its individual merits, we call this our 360Promise. By working collaboratively with the valuer and solicitors, we were able to structure a solution that appropriately managed the risk while helping the borrower meet a critical deadline."

Somo regularly supports brokers with complex cases where historic planning matters, title issues or other property-specific challenges arise during underwriting. By taking a pragmatic, case-by-case approach, the lender aims to keep transactions moving without compromising on responsible lending.