Somo Reviews 126

They have have given my father a £262,500 9 month loan despite him being retired and unemployed in October 2024 secured against my house and now want £406,000. The mortgage was paid off in 2019 & They want to evict me from my address to sell to recover their money. I’ve lost my assets, deposit & mortgage payments. Loan companies like this should be illegal. I believe they’ve borrowed him the money knowing he won’t pay it back to get my house.

We required a short-term bridging loan and SoMo were the perfect fit. When we needed to extend it Somo were accommodating provided we gave enough notice and an exit strategy that SoMo could be comfortable with. Established very good relations with Suzanne, Maria and Simon and would look to do the same again should the need arise. A very efficient service!

Fast service when I really needed it, and also a fast refund when I overpaid on redemption. I would recommend and use again, if I needed it.

We have been investing with SoMo for 4 years now and are very pleased with both the returns and the quality of communication/updates. The company has also been very responsive to queries and the team very helpful. P2P can be something of a minefield and having invested in a number of different platforms and seen the good, the bad and the ugly, I'm pleased to say that SoMo are very much in the "good" category!

It was the best experience to Deal with Simon Cotrell, He settled our funds as per our needs, Happy with somo investment and services
Highly recommended

Great working with Somo on a couple of recent second charge bridge cases.

Clear communication throughout, commercial underwriting, and a team that understands how to get complex deals over the line.

Look forward to doing more together.

PROCEED WITH EXTREME CAUTION
Our experience with Somo was one of the most stressful financial situations we have ever faced.
When we contacted them to repay our loan, communication with Suzanne Trafford and later director Simon Cottrell became delayed and difficult. Despite having an ongoing email chain, we were told that our repayment email had gone into “junk mail,” which resulted in further delay. I strongly believe this is their tactic.
During this time, default charges were added, significantly increasing the balance.
On a Thursday very late, we were informed that if we wanted to proceed with a loan extension, it had to be signed before the end of that same week. This left virtually no time to properly review or seek advice on what was a serious financial commitment. Feeling under pressure, we signed, only to later discover that the interest terms had changed and additional charges had been added even though it was an extension of the same product/loan.
This loan was taken to fund medical treatment for our disabled son, and we had provided full medical evidence. At an already difficult time for our family, we felt met with rigidity, added costs, and pressure rather than support.
We cannot recommend this company based on our experience and would urge others to read the terms very carefully and proceed with great caution.

Excellent - good platform, extremely well managed loan and collections process - excellent returns for the well managed risk.

I've been with SoMo from almost the beginning.
They have rewarded my faith in them over the years.
Louis gives a personal touch to the investors.
Simon is always available and answers my queries with a knowledgeable and friendly manner.
Keep doing what you do guys!

GREAT SERVICE! ONE OF THE FEW HONEST COMPANIES IN THIS P2P FIELD!

I nearly forgot to give a 6- star review for Somo.
You will get your money back super quick and the interest rate is very high too- close to 10% and I love my experience. Thank you very much !!!

Complaint completely dismissed. That how they deal with customer feedback.

Very happy with the delivery service polite and helpful bed is wonderful and just how I expected
Aky and Riz

Somo has been great to deal with so far. They’re easy to contact, and it’s refreshing to be able to speak directly to real people who can offer clear advice and guidance when making an investment.

Their investment website and investor dashboard are both very easy to use and understand. Everything is laid out clearly, making it simple to track investments and find the information you need without any hassle.

Overall, Somo provides a smooth and supportive investment experience, and I’m very happy with the service they offer.

I have invested with SOMO for many years and have made a nice return, and NO losses !
They are nice people to deal with and can be reached on the telephone, which is not common in 2025.

Terrible communication, still waiting for a reply from Suzanne Trafford, never answers her phone or reply’s to emails.

We have been trying to contact SoMo for over a month to discuss our current bridge and have had absolutely nothing back. We have tried going directly and also through our broker but we can not get anyone to call us back. Disappointment from start to finish, promise so much and deliver very little

Joe Cash provided excellent service and feedback throughout the process, always available and responsive and helpful with any queries or issues.

Steve at Somo has consistently gone above and beyond to support my applications. He not only works hard to secure an offer, but also explains the process clearly and simply, something I’ve not experienced with other lenders.

Despite having limited income and a challenging credit history, Steve helped me secure an approved bridging offer of £225,000 for a buy-to-let purchase.

This isn’t my first experience with Somo either. Steve has successfully supported previous applications for me in the past, and I’ve always found the service to be excellent.

For this reason, I highly recommend Somo and if you're lucky enough to get Steve, take full advantage!

Steve and the team offer world class service to brokers. always available and able to offer solutions to problems other lenders can not