Mortgage entrepreneur, Ying Tan, will reportedly take the position of CEO at Habito (subject to Financial Conduct Authority approval) and aim to become a significant shareholder in the business.
This update comes as Habito, the digital mortgage broker and home-buying service, finalizes its most-recent round of funding, which was led by Ying Tan and joined by Habito’s existing investors, Augmentum Fintech, SBI Investment, Volution as well as Bootstrap Europe.
During the first quarter of this year, Habito experienced steady volumes despite the presence of difficult market conditions and continues to harbor bold ambitions for the rest of 2023.
In order to support the ongoing growth, this latest investment will aim to power the next phase of Habito’s 5* client offering and will enable the firm to continue fusing its proprietary tech platform with its advice team.
Daniel Hegarty, who is reportedly stepping down as Habito’s founder and CEO after seven years in a leadership role, continues to be supportive of the business and its overall strategy.
Hegarty stated:
“Over the past seven years, we’ve been on a mission to make the process of owning and financing a home easier. Habito has helped more than half a million people with their mortgage needs and has doubled down on customer service during a period of great change and uncertainty in the UK housing market. Leading such a passionate, skilled and dedicated team during this time has been an honour. I’m tremendously proud of all that we’ve achieved together and I’m excited for all that the future holds for Habito. Ying is a mortgage industry titan and a phenomenal operator and I can’t think of a leader better suited to the role.”
Ying Tan added:
“I’ve admired Habito from afar since its launch in 2016 and I’m beyond thrilled to have the opportunity to take the company to the next level. With the cost of living biting, energy prices sky-rocketing and interest rates at historic highs, it’s more important than ever for UK mortgage-holders and first time homeowners to have access to the very best mortgage and home-buying advice. I’ve spent nearly 20 years in the industry and am passionate about delivering stellar customer outcomes and driving positive change within the mortgage market. 2023 is going to be another milestone year for Habito’s brokerage and I’m excited for all that’s to come.”
Since 2016, Habito has reportedly led the £1.6T mortgage sector’s digital transformation with its brokerage tech, home-buying innovations and professional team.
During the last few years, Habito has submitted over £10B worth of mortgages and claims it has achieved high customer service scores from its 500,000 cleints who’ve appreciated its independent, whole-of-market and “jargon-free” approach.
In 2020, Habito launched the UK’s fully-integrated home-buying service – Habito Plus – bringing together home-financing, surveys as well as conveyancing under a single platform.
Daniel Hegarty has reportedly spent the past 10 years in various leadership positions in the United Kingdom’s Fintech industry.
He will now be focusing on his advisory roles, investment portfolio as well as another Fintech start-up.
Tan also mentioned:
“Dan has led Habito with creativity and vision. I share his enormous passion for innovation, technology and commitment to solving real-world problems for customers. I am super proud to take the baton and turbocharge Habito’s growth for the next stage of its journey.”
Ying Tan had founded mortgage brokerage, Dynamo, back in 2006 and was able to grow it to 200 staff members prior to exiting to Connells, the UK’s property services businesses in 2021.
Tan has also invested in various Fintech initiatives such as Propflo and Knowledge Bank, where he is serving as non-executive chair.