The world's best Mortgage Calculator by Habito?

StevenGreaves

This is one for the mortgage brokers on the forum please.

All the mortgage calculators I have come across are pretty basic, but Habito claims to be unique and says that they don't just multiply income but do a real time search of all lenders and products and come up with a real product. This is what they say on their page (can't paste a link yet, just google Habito mortgage calculator)

My question is, do their claims below stack up? I put in my income and it spit out a Skipton mortgage exactly 4.75 times my income. However, when I tried affordability calcs on Skipton, they showed between 4-4.5 times maximum.

How does the Habito Mortgage Calculator work?

Habito searches more than 20,000 mortgages from over 75 lenders to find the right one just for you, and we have a team of industry-leading mortgage experts ready to answer all your questions. And now we’re taking on another element of home loans that could do with a serious revamp: the mortgage calculator. You know the sort of thing – you plug in a few details and the machine spits out a guesstimate of how much you can borrow and your monthly repayments.

Which is all well and good, except that most standard mortgage calculators are pretty useless. They don’t gather enough information to provide a realistic borrowing amount, they don’t show you actual mortgages, and they don’t scan the whole of the mortgage market. In other words, they’re more ballpark than bespoke.

When it comes to making what is likely the biggest financial decision in your life, ballpark numbers aren’t good enough. So we’ve built the most accurate and only real-time mortgage calculator in the UK that does a lot more than just multiply your income.

Whether you’re looking to secure a new mortgage or save on a remortgage, Habito's Mortgage Calculator searches the whole market, providing you with a borrowing amount that’s more realistic.

MovingForwards

Just tried it.

Said I could borrow under £50k on my over £28k salary......

Tried it on a £60k wage and it come back as less!

Will stick with the Halifax one and my broker

ACG

I could be wrong, but I doubt their calculator will be accurate for all lenders.
I know that a couple of lenders will not allow anyone to link in to their calculators, they are classed as commercially sensitive and so would not want their calculations getting out. I have spoken to a few lenders as I wanted to build something that checked a few lenders at once purely for our purposes when doing research.

StevenGreaves

Yeah, I'm not sure why they would make such easily debunked claims! Like "So we’ve built the most accurate and only real-time mortgage calculator in the UK that does a lot more than just multiply your income."

Zero_Sum

Just put my details in & gave me a monthly repayment figure.
Without any mention of rate
Without any mention of term
Without any mention of fees

So theyve basically just gave me a meaningless figure i cant compare to my current deal.