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Habito Review – The Right Online Mortgage Advisor for You?

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In this Habito review we take a closer look at the UK online mortgage broker, to see what they have to offer and help you decide if taking out a mortgage online with Habito is the right option for you.

Who Are Habito?

For those of you who are completely new to the company, let’s just take a moment to look at who Habito are and how they came about.

Habito* were the first digital mortgage broker in the UK and they came about to simplify the process of taking out a mortgage, while at the same time finding the good value for clients by comparing the whole of the mortgage market to find the best deal available. Whether you’re a first time buyer, a landlord looking for a buy to let mortgage or an existing homeowner looking for the best remortgage deal, the Habito team* can help you through the process in a simple and efficient way.

Are Habito Any Good?

If it sounds like I’m enthusiastic about Habito*, it’s because I genuinely am. As an ex-mortgage advisor myself, I know that you don’t need to have lots of time consuming face to face appointments with many different banks or advisors in order to find the best deal. It really can be as simple as having an online advisor take a look at your personal circumstances and then compare the mortgage market using the best software to find the right mortgage deal for you.

I also feel that you shouldn’t have to be charged a fee for the privilege of using a mortgage broker. When you take out a mortgage via a broker, a commision will often be paid to the broker by the mortgage company anyway, and this should be enough to sustain the broker’s business operations. If you’re worried that a company like Habito might just select the mortgage with the highest commision available, then you can again take comfort in the fact that since the mortgage crisis of 2007-08, the mortgage market and the activity of brokers in particular has never been under greater scrutiny from the Financial Conduct Authority, and brokers now have to keep detailed records to show how and why they selected a certain mortgage for you.

How Habito Works

Now you know a little more about Habito, you’ll likely want to know more about how the company works.

In this regard, the first step is for you to chat with their Digital Mortgage Advisor*. The digital mortgage advisor is available 24/7 and it is a chatbot that uses complex algorithms to identify mortgage products that will adequately suit your personal circumstances. The mortgages the chatbot selects will have been narrowed down from thousands of mortgages that are currently available to the UK market.

Once you have completed this step, you will be put in contact with one of Habito’s human advisors. Habito’s human advisors will then talk with you on a more personal level to help identify which mortgage from the range selected by the ‘chatbot’ will be the most appropriate one for you. Once this has been confirmed, your human advisor will then be with you every step of the way to help see your mortgage through to completion.

How Much Does Habito Cost?

Habito is a 100% free service. When you find a mortgage using Habito*, you won’t pay any broker fees and you will also not pay any more on your mortgage for using the service. Habito make their money through commission payments on the mortgages they arrange for their clients, it’s as simple as that.

Are Habito Regulated?

Yes, Habitio are directly authorised by the FCA. This means that they are not tied to another company or panel of particular lenders. Instead, they are able to access every mortgage on the market that is available to brokers.

Customer Reviews of Habito

If you’re anything like me, before you deal with a company you’ll want to get a rounded view of what other customers have had to say about them. In this regard, it’s encouraging to see that Habito* currently have an ‘Excellent’ rating on the popular review site Trustpilot and almost 90% of their customers rate their experience this way.

Is Habito for You?

Technology has disrupted and revolutionised many areas of the financial services industry. Think about how much simpler it is to find the best and cheapest insurance deal now that we have comparison sites. Really then, it was only a matter of time before technology and the internet shook up the mortgage market too. If you’re comfortable using the internet and you don’t have the time to deal with face to face broker meetings, then I see no reason why a service like Habito* wouldn’t be a good option for you when taking out your next mortgage.

If you’re looking to find a mortgage now then get started on the Habito website*.

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