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Habito review August 2019

Habito is a free online mortgage broker which scours through over 20,000 products searching for the best deal for you in a matter of minutes.

If you’re looking for a speedy, hassle-free way to find the best mortgage deal, Habito could be a great tool to use.

The online mortgage broker was designed to remove the stress of searching through tens of thousands of mortgages. What’s more, it’s completely free to use.

After collecting some basic details, Habito uses an intelligent algorithm to search through over 20,000 products from more than 90 lenders to find you a suitable mortgage deal. The process takes around 15 minutes.

If you have any questions, you can contact a human via telephone or live online chat.

You can even manage your completed mortgage through Habito or use it to identify the best remortgaging opportunities.

How does Habito work?

Once you’ve created a Habito account, you’ll be asked to fill in basic personal and financial details, as well as what type of mortgage you’re looking for.

This information will be passed on to one of Habito’s mortgage experts, whom you can contact via live online chat or telephone. They are available between 09.00 and 21.00 every day, apart from Fridays when they’re available from 09.00 until 17.00.

Habito’s experts will recommend you a mortgage deal based on the information submitted and a basic affordability check that leaves no footprint on your credit record. If you wish, they’ll also submit your application to the lender.

This will hopefully lead to an Agreement In Principle from the lender, subject to its own credit checks.

warning iconWarning: Your home may be repossessed if you do not keep up repayments on your mortgage.

Is Habito safe?

Habito is authorised and regulated by the Financial Conduct Authority, which means it’s bound to the same regulations as all major financial companies across the UK.

The company promises never to unnecessarily share your personal data with a third party.

The service is legitimately free to use. There are no hidden charges. Habito is paid commission by lenders, not its customers. Nevertheless, it will still reveal how much commission is being made from your deal.

Habito founder Daniel Hegarty talks about how the service is different

Are there alternatives?

Other mortgage brokers have already launched robo-advice platforms. These include:

  • Trussle. This will search through thousands of products from more than 90 lenders to help you find the right mortgage. You can then track each stage of your mortgage application through a personal digital Trussle timeline.
  • Dashly. This smartphone app searches through tens of thousands of mortgages to help you find the best deal, then sends you alerts whenever you can save money by switching mortgage.
  • MortgageGym. This online broker allows you to find the best mortgage for your circumstances in 60 seconds and save yourself around £500 on mortgage fees.

Where do I sign up?

You can visit Habito and create an account within minutes. If you prefer, you can sign up using your Google or Facebook account.

Habito

Habito

Habito: The UK's Online Mortgage Broker - Fee Free Mortgage Advice

  • Get answers fast
  • Free expert advice
  • Mortgage advice you can trust
  • The best mortgage for you

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Habito’s pros and cons

Pros

  • Habito is free to use.
  • It’s quick and hassle-free.
  • You can use it 24 hours a day.
  • You can speak to a human advisor online whenever it’s convenient for you, including evenings and weekends.
  • Habito will help you submit a mortgage application to 90+ lenders.
  • If the best deal is found outside its list of lenders, it’ll encourage you to apply to this lender directly.
  • Habito is regulated by the Financial Conduct Authority.
  • Refer a friend and you’ll each receive a £100 cash reward once they complete their application.

Cons

  • There is no assistance offered when initially entering your information.
  • Habito’s algorithm might struggle to find you the best deal if your financial circumstances are complicated.

The bottom line

The jury may still be out on digital mortgage brokers, but Habito is free and so quick to use that you might as well give it a shot.

Frequently asked questions about Habito

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*Disclaimer: The offers compared on this page are chosen from a range of products finder has access to track details from and is not representative of all the products available in the market. Unless indicated otherwise, products are displayed in no particular order or ranking. The use of terms "Best", "Top", "Cheap" including variations, are not product ratings and are subject to our terms of use. You should consider seeking independent financial advice and consider your personal financial circumstances when comparing products.

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