Getting a new mortgage has traditionally involved dealing through a mortgage broker and can be a time-consuming and slow process. New internet mortgage broker Habito is now set to offer home owners a faster and more convenient service through the Habito portal, and save themselves a lot of money in the process. It claims to find the right loan within minutes and eliminates broker fees.
Habito launched last April and claims to have handled £50 million worth of applications for over 20,000 enquirers.
Habito recently raised over £5 million investment which it will use to beef up its technology and enable agreements to be generated automatically.
Through its website habito offers access to quotes from over 60 mortgage providers, including buy-to-let loans. The lenders themselves pay a small fee to habito, eliminating broker fees and commissions. There are options for new buyers and also for switching a mortgage to a better deal.
If habito succeeds in becoming the comparison web site for mortgages it can only be for the benefit of the millions of home owners who are paying over the odds for buying their home.
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