First Time Buyer
AIP 18/02/2020 - Full Application 25/02/2020 - Valuation - 16/03/2020
17/03/2020 - Mortgage Offer Issued
23/03/2020 - LOCKDOWN
19/06/2020 - Exchange of Contracts
07/08/2020 - Officially Homeowners
Habito - Impact Specialist Finance
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onthemend88
Posts: 258 Forumite
Has anyone used them before? They are recommended by Habito for people with impaired credit history.
We already have a broker in mind when we apply for our mortgage within the next few months but I thought I would pop on here to see peoples thoughts about this company.
We already have a broker in mind when we apply for our mortgage within the next few months but I thought I would pop on here to see peoples thoughts about this company.
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Comments
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I have not used Habito, I used L&C i my experience has been very very good.
My income is not fixed but the person i spoke to was able to get me an offer and yes i am very pleased how the case was handled.
I suggest you try different brokers to see what are you being offered and go with the best one
Good luck0 -
Very broadly speaking, online/direct brokers like to cherry-pick the easy stuff. Their staff tend not to be as experienced as local brokers and they are on targets to turnover as many applications as they can. The process for large scale direct/online brokers is often referred to as factory line processing.
So, complicated cases are not really what the factory line brokers are looking for. This is where a local broker who is not targetted for x number of cases a day and can spend quality time with you to find out the issues to give you the best advice. Local brokers tend to be more experienced as well and that will help with difficult cases.
If you look at the online broker reviews and comments from users of this board over the years, you tend to find that those without issues have no problems with online/direct brokers. However, the minute there is a complication, they tend to get more negative reviews.
So, use a local broker.0 -
Habito is just a referrer, as in they refer adverse leads (which they don't handle) to Impact (a specialist broker) whom they have partnered with. They either get a fixed fee for every case referred to Impact or a cut of the commission that Impact gets from the lender if you do go through them.
From a customer pov, for cases referred through Habito, Impact waive their usual fee of around £500, at least for the moment.
Impact used to be called Atom, and (from industry hearsay) were decent. I guess if their advice is "free" there's no harm seeing what Impact can offer to do for your particular circumstances in comparison to the broker you already have in mind.
https://www.mortgagesolutions.co.uk/news/2019/11/08/impact-waives-fees-for-habitos-adverse-credit-customers/onthemend88 wrote: »Has anyone used them before? They are recommended by Habito for people with impaired credit history.
We already have a broker in mind when we apply for our mortgage within the next few months but I thought I would pop on here to see peoples thoughts about this company.0 -
Thank you.
I have called them today and completed a fact finding form and sent all of the relevant documents over.
No credit checks will be carried out unless we are happy to go ahead - the advisor seemed very knowledgable and said she would have a look to see which lender we would be best suited with.
Just going to see what they say and go from there First Time Buyer
AIP 18/02/2020 - Full Application 25/02/2020 - Valuation - 16/03/2020
17/03/2020 - Mortgage Offer Issued
23/03/2020 - LOCKDOWN
19/06/2020 - Exchange of Contracts
07/08/2020 - Officially Homeowners0
This discussion has been closed.
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