Habito launches new home-financing service for FTBs

Habito has launched a brand-new home-financing service, ‘Habito Go,’ designed to give FTBs the advantages and negotiating power usually only enjoyed by cash buyers.

The service will allow buyers to ‘upgrade’ their mortgage recommendation to a guarantee of funds, enabling buyers to purchase the property in cash, while they would simultaneously continue their mortgage application through Habito’s brokerage.

A recent survey of 2,000 buyers and sellers conducted on Habito’s behalf by YouGov, revealed that 34% of sellers said they would be more likely to consider accepting an offer from a buyer if they were to pay in cash.

The survey also suggested that more than 40% of prospective buyers said they were resigned to a long and drawn-out process when buying a new property, and that seven out of 10 sellers would value speed and a smooth process as much as, if not more than, achieving the asking price.

Habito founder and CEO, Daniel Hegarty, said: “All our research tells us that home-buying is riddled with uncertainty and a lack of control that most people just don’t feel equipped for – and FTBs probably have it the hardest.

“With Habito Go, we hope to alleviate this by arming buyers with the power of a cash offer for their dream home, while giving sellers the reassurance of a guaranteed sale that is achievable in a fraction of the time normally required to complete a purchase.”

Habito Go will allow approved customers can to their loan offer in as little as 24 hours, so they can make an attractive cash offer to estate agents and sellers – putting them in a stronger negotiating position on price. Customers can expect to make a saving on the asking price of their property with a cash offer.

The service also aims to speed up the overall process of buying a new property, using fast-track affordability checks, valuations, searches and comprehensive legal work, to give customers a chance of moving into a new home in as little as two weeks.

Personal finance expert, Andrew Hagger, commented: “Habito Go is a new and innovative product that has the potential to wipe out some of the major hassle factors encountered by FTBs. The speeding up of the process and ability to negotiate a 'cash buyer' type discount could be highly beneficial, and many borrowers could see some or all the product fee costs negated, due to a lower purchase price being achieved.

“Removing stress, worry and giving FTBs a greater chance of getting their number one choice of home – rather than always wondering what might have been when you've had to settle for second, third or fourth choice – is a great benefit of Habito Go.”

    Share Story:

Recent Stories


FREE E-NEWS SIGN UP

Subscribe to our newsletter to receive breaking news and other industry announcements by email.

  Please tick here to confirm you are happy to receive third party promotions from carefully selected partners.


The future of the bridging industry and the Autumn Budget
MoneyAge content editor, Dan McGrath, is joined by head of marketing at Black & White Bridging, Matt Horton, to discuss the bridging industry, the impact of the Autumn Budget and what the future holds for the sector.

The UK housing market in 2024
The performance of the UK housing market in 2024 has largely exceeded many people's expectations, although challenges remain for first-time buyers due to house prices increasing and a testing rental market for many. Regional disparities, such as the North-South divide, also continue to influence housing accessibility and affordability for many buyers in pockets of the country.

Intergenerational lending
MoneyAge News Editor, Michael Griffiths, hosts Family Building Society BDMs, Amar Mashru and Arif Kara, to discuss intergenerational lending and explore ways that buyers can use family income to help increase their borrowing capacity when applying for a mortgage