Without a mortgage, the chance to buy and own a house would be impossible for countless people worldwide. That’s why, for centuries, the concept of a mortgage has been a critical aspect of many societies around the world. However, that’s not to say that the mortgage system doesn’t have its downsides.
In the UK, for example, most people who own their own homes do so via a mortgage. Despite being a small country, Britain is Europe’s biggest market for residential mortgages.
Despite this, the process can be nightmarish when applying for mortgages through conventional banks. So it was only a matter of time before Fintech burst into the British mortgage market to revolutionize the process.
In 2016, the Fintech company called Habito was launched. Since then, Habito has provided a range of revolutionary mortgage services that have helped hundreds of thousands of people successfully find and secure new or improved mortgages. Their services have become particularly popular in the United Kingdom.
Initially, Habito started as a Fintech mortgage broker that aimed to digitize the realm of financing homes and properties. But as its journey progressed, it transformed itself into a direct lender that offered clients an enormous array of buy-to-let mortgages.
To achieve its goals, Habito has created a broker portal software used by thousands of external mortgage brokers to access the buy-to-let mortgage services and “Instant Decision” technology offered by Habito.
As Habito expands, it leaves no stone unturned in its search for new clients. From buy-to-let to a massive range of other residential mortgage services, Habito is becoming the go-to Fintech company for all types of property owners.
Accomplishments and Impact
Habito also made history when it successfully became the first British mortgage firm to achieve B Corp certification. This meant that Habito now had a legal commitment to prioritize the environment as much as it does its clients and business.
By using the power of business to tackle the growing threat of climate change and the negative impact on businesses on the planet, Habito joined the ranks of the likes of Microsoft, Goldman Sachs, and IBM.
There is also a double benefit to the environmental pledges of this Fintech company. Climate change and the ecological impact of global businesses directly affect the mortgage industry. In the UK, for example, banks are becoming extremely cautious about giving out mortgage loans for homes located in areas like Brighton, Bristol, Cardiff, and London due to the increased risk that homes in those locations could be hit by the effects of climate change in the form of flooding and high winds.
With global business surveys showing that over 90% of business executives believe climate change can negatively affect their profits and sustainability, it’s a promising sign to see that Habito has made such significant investments in its environmental future.
In addition to the environmental progress made by Habito, this innovative Fintech company recently launched Habito Plus. This cutting-edge upgrade is essentially an end-to-end digital service that brings all aspects of a client’s mortgage application together in one place, making the entire process streamlined and easier to manage.
What to Expect
Since Habito first hit the scene in 2016, it has come along in leaps and bounds. In a short space of time, it has successfully enabled over €4.9 billion worth of mortgages spread out across hundreds of thousands of delighted clients. Additionally, Habito was selected as one of the top Fintech50 for 2019.
Habito isn’t resting on its laurels either. In the summer of 2020, despite the economic uncertainty the world was living in at the time, Habito successfully managed to raise over $33 million to fund their mission further to continue digitizing various aspects of home financing and buying.