'10 minute' digital mortgage adviser launches

UK tech startup, Habito, has launched an artificially intelligent Digital Mortgage Adviser, which aims to estimate monthly mortgage costs across hundreds of products in 10 minutes.

Related topics:  Mortgages
Rozi Jones
12th September 2016
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"Our digital mortgage adviser is a huge step forward in making mortgage advice accessible for consumers in the way they need it most: unbiased, always available and most importantly free."

Habito says the DMA will allow millions of consumers to discuss their mortgage needs for free from any connected device, 24 hours a day, without requiring a human broker.

The service marries all the elements of a customer’s financial life, including employment, salary and personal life plans, with real-time market mortgage rates to calculate an indicative monthly payment in an average of 10 minutes.

Habito says the DMA is a direct response to the FCA’s Financial Advice Market Review report calling for greater, more accessible financial services advice for British consumers.

The firm plans to roll out additional interactive features, such as remortgage alerts, later this year.

Daniel Hegarty, CEO and founder of Habito, said: “Finding the right mortgage product in the UK is like finding a needle in a haystack. Britons are crying out for some innovation and clarity in an outdated and overwhelming mortgage market

“Our digital mortgage adviser is a huge step forward in making mortgage advice accessible for consumers in the way they need it most: unbiased, always available and most importantly free.”

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