Habito, an app that helps you find the right mortgage

23^rd March 2018

The editorial unit

The editorial unit

23 March 2018

Paperwork, brokerage fees, and a lengthy approval process: these are just some of the problems with using a traditional mortgage broker. However, a new startup app called Habito aims to solve all of these problems. Here’s how Habito helps users find the right mortgage:

Avoid paperwork

Using a traditional mortgage broker means filling out paper applications, forms, and contracts. It’s a lengthy process that requires lots of back-n-forth interactions to ensure the right information is obtained. The amount of paperwork involved in applying for a mortgage might make people feel like they have an office temp job.

Using Habito you’ll be able to get an idea of what your mortgage will look like within five minutes. Simply fill out the easy to complete forms online and the Digital Mortgage adviser will give an overview of the mortgage options, without the paperwork.

Personalised mortgage guidance, without the fees

There is a myriad of fees that traditional mortgage brokers charge. They could include arrangement fees, booking fees, valuation fees, and account fees. Not to mention, they may also get a percentage of the mortgage as a commission. All of these add to the cost of the mortgage.

By moving the entire mortgage application online, Habito eliminates all of these fees. Users will receive personalised mortgage guidance without the high price tag.

Get the best mortgage rate available

Matching the application with the right lender can be a slow, long process with a traditional mortgage broker. Some brokers don’t have access to every lender and may actually be a representative of a certain finance group only, meaning you might not get the best rate available.

Habito does a real-time analysis of more than 11,000 mortgage offers from 70 lenders to bring the best rate available for the user’s personal circumstances. This speeds up the entire mortgage application process and ensures people aren’t being overcharged.

Save money over the long term: Get alerts when a better offer becomes available

With most traditional brokers the relationship ends once the application approved and the applicant is granted the loan. Over time, mortgage rates and the personal income circumstances could change and you could end up being mismatched with your current loan. This means larger mortgage payments than if you were matched with a better loan.

Habito will continually monitor mortgage products according to your circumstances and will alert you if you’ve become mismatched. This could save you potentially thousands of dollars over the lifetime of your loan.

Find out how much you can borrow with the mortgage calculator

If you’re a first homeowner, looking to change homes, or thinking about refinancing use Habito’s mortgage calculator UK to get an idea of the amount you can borrow.

Just follow these steps:

1. Sign into the app
2. Enter details regarding your eligibility, current mortgage, and property.
3. Habito will give you an idea of the amount you can borrow
4. It will also continually monitor the market for better deals

Get a better deal with Habito

Habito helps you avoid paperwork, save on brokerage fees, find the best rate available, and continually monitors the market for the best rate.

The editorial unit