Habito

Habito operates as a digital mortgage company in the United Kingdom, aiming to streamline the often complex and stressful home financing process. The company was established in 2016 by Daniel Hegarty, whose frustrating personal experience with obtaining a mortgage served as the catalyst for the business. Before entering the fintech world, Hegarty was a professional musician who later transitioned into technology, holding several roles at Wonga, including Head of Decision Science and Head of Strategy, which provided him with a foundation in financial technology.

The firm functions as an online mortgage broker, utilizing technology to digitize and simplify the application process for clients such as first-time homebuyers, individuals looking to remortgage, and buy-to-let investors. Its platform analyzes thousands of mortgage products from over 70 lenders to identify suitable options for its users. Revenue is primarily generated through commission fees paid by lenders for processing mortgage applications, allowing the brokerage service to be free for customers. Habito also became a direct lender, offering its own buy-to-let mortgages and long-term fixed-rate products, although it later paused offering its own mortgages amid market turbulence. To complement its core offering, the company introduced Habito Plus, a comprehensive home-buying service that bundles mortgage arrangement with property surveys and legal conveyancing for a fixed fee. The company has also expanded into offering related insurance products.

Since its launch, Habito has secured significant funding from investors including Augmentum Fintech, SBI Investment, Atomico, and Mosaic Ventures. A notable milestone was achieving B Corp certification in 2020, legally committing the company to consider the impact of its business decisions on people and the planet. In 2023, founder Daniel Hegarty stepped down as CEO and was succeeded by Ying Tan, a seasoned entrepreneur in the mortgage industry who also invested in the company, leading a new funding round. By September 2023, the firm reported its first monthly profit.

Keywords: digital mortgage broker, online mortgage advice, home financing, mortgage application platform, remortgaging, buy-to-let mortgages, first-time home buyers, fintech, proptech, UK mortgage market, conveyancing services, property survey, mortgage lending, B Corp, Daniel Hegarty, Ying Tan, whole-of-market broker, mortgage comparison, home-buying service, financial technology