With a mortgage market which is in the most part confusing and a poor experience, Habito offers a fully automated brokering service that helps find the most suitable mortgage and makes an application. They’ve built proprietary technology that claims to analyse over 15,000 mortgage products across 100 lenders and identifies the best mortgage for each unique applicantin less than 30 minutes. The service is free to the end customer but takes commission from the eventual lender.
How they’re disrupting
Habito’s technology tracks changes in the mortgage market – eligibility criteria, interest rates, affordability and product features, to to identify emerging patterns and how they can help or hinder potential applicants. It then serves up intelligent decisions based on data. Most importantly though, you’ll never have to deal with another mortgage broker.
In the UK alone the broking market is valued at £95 billion. Big numbers.
Investments and future
Habito have raised just over £1.5 million in seed funding led by Mosaic Ventures and included Transferwise’s CEO Taavet Hinrikus and Funding Circle’s Samir Desai.