Wednesday 27 July 2016

Habito - Finding A Mortgage With Innovation!

When I was younger, I dreamed of owning a big house, a house with a swimming pool, a cinema room, a very large kitchen and at least one big garden. Naturally, when you become older, you take note of your surroundings and current financial position which gives you the reality that those dreams may just be that. However, being the owner of a property doesn't have to be a dream, and with so many ways to get a mortgage these days, as long as you have a steady working income, the part of your dream of becoming a homeowner can be reality.

Moving in seemed like the longest process of my life!
Having lived in this house for 18 months, I've recently been thinking about making it our very own home. At the moment, I rent the property from the council, which is great, but I know it's not mine. Of course I can decorate the walls however I want, and do limited moderations, but if the house was my own I could do a lot more. With the government's right to buy scheme, I must wait at least 18 more months to be considered, but there's no time like the present to get the ball rolling, after all getting a mortgage isn't as easy as buying a newspaper!

With the modern world advancing around us at an increasing pace, many of us are aware of online mortgage sites. One such site which launched in April this year is Habito, “using unique proprietary technology, Habito analyses every mortgage on the market across 100 lenders in seconds. It identifies the very best mortgage for each applicant, based on their individual circumstances, and enables them to complete their application online, from a phone or tablet, within around 30 minutes.”

Backed by some of the most successful fintech entrepreneurs in Europe - including Transferwise CEO Taavet Hinrikus and Funding Circle CEO Samir Desai - is the world’s only digital mortgage broker. Directly authorised by the Financial Conduct Authority, Habito is completely impartial and free. With 7.6 million active mortgages in Britain, 69% of which are completed with the support of a mortgage broker, the market potential for the company is huge. Because the process is fully automated, the company is built on strong foundations to achieve significant scale quickly.

I decided to test out Habito myself, on the homepage as first impressions really do count, I was greeted by a clean cut design, with an easy to navigate system, a number of five star customer reviews greeted me at the bottom of the homepage, and being an established blogger, reviews are something I not only take seriously but look for first when it comes to buying or using a product/service. The bottom of the site also shows that Habito, has been featured on a number of valuable sources, including The Daily Telegraph, Sky News, TechCrunch and more.

I want our house to be ours, where my boys can make memories!
Being a first time mortgage looker (I say this because I'm not sure if I'm entitled to buy my home), having something easy to understand is a must. I don't know the ins and outs of mortgages, nor do I know even the basics, so having a handy help and FAQs page was welcoming. My concern was how a service which on first and final thoughts, could simply provide their custom free of charge, thanks to the help and FAQs page, my mind was quickly put to ease.

Two members of my family have lost their homes due to failed mortgages which came after job losses, so going down the mortgage route is something rather daunting as well as being exciting. I'm self employed, and after being a stupid young adult, I found myself slowly getting into debt, so I worry about these things affecting my potential mortgage, however Habito again put my mind to rest by ensuring that things work differently with them and their lenders.

You may possibly be reading this article whilst thinking what's different from visiting a high street broker? Well first things first, with Habito, you don't need to leave your own home, that's always a bonus isn't it? No appointments, no scheduled times, no smart dress up, and pages and pages of paperwork at the very least. I comfortably laid on my sofa, with my laptop and completed a very quick search whilst wearing my pyjamas with 10 hour old make up on my face - I'm winning!

I can hear you saying but I like leaving my home, getting dressed up and having scheduled meetings with lots of paperwork to fill out, and that's fine, but can your broker check out over 100 lenders within 30 minutes? If they're a robot then yes, if not, then no! The average broker will look at 11-12 lenders and process an application in 2-3 weeks, but it’s impossible for one person to look at every mortgage in the market! This often leaves people with the wrong mortgage, and with 1 in 2 people in Britain suffering from ‘mortgage mismatch’ meaning they could be on a better deal, saving on average £4,000 per year that's something I'm not prepared

Habito are using technology to revolutionise the market and do for mortgages what Uber has done for taxis, eBay has done for auctioning and AirBnB has done for accommodation and for that, as a first time potential homebuyer, I thank and salute them!

Jada x


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