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Online mortgage broker Habito launches

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11/04/2016
Online-only mortgage broker Habito has launched in a bid to transform a market that “has failed to keep pace” with the needs of consumers in the current technological environment.

The firm, which has been fully authorised by the Financial Conduct Authority (FCA), has access to all UK lenders which already offer intermediary distribution and allows customers to complete their application online, from a phone or tablet, within around 30 minutes.

Habito launched following a £1.55m seed funding round led by Mosaic Ventures and is backed by a number of European fintech entrepreneurs, including Transferwise CEO Taavet Hinrikus and Funding Circle CEO Samir Desai.

The firm has been live for around a week, with a number of customers currently going through the application in principle stage, a spokesman at Habito said.

The move follows a similar proposition created by Trussle, rolled out at the end of last year, another online-only mortgage advice service.

CEO and founder of Habito, Daniel Hegarty, said the mortgage advice industry had failed to produce “meaningful innovation”, despite the ability for technology to support consumers through the application process.

“It’s not right that millions of people are paying over the odds on the wrong mortgage,” he said.

“It’s time for technology to bring mortgages into the 21st century. Habito scours every mortgage from over 100 lenders in seconds and matches the best one for you. It is an easy, fast and transparent way to find and apply for the right mortgage seamlessly.”

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