Habito, the online mortgage broker and lender, today announces a partnership with Impact Specialist Finance.
The partnership will allow homeowners who have poor credit history access to Impacts’ specialist broker services, at no cost.
Research by Habito found that two thirds of homeowners suffer from mortgage stress,when applying for home financing, but for those customers with adverse credit history, getting mortgage advice and being accepted for a product can be additionally challenging, stressful and costly. Homebuyers who have poor credit scores often need specialist brokers to manage a more complex mortgage application and apply to specialist lenders.
While Habito’s brokerage suggests ways in which homebuyers can improve their credit score, the broker couldn’t help those who’ve had serious credit issues, such as defaulted on their mortgage or missed mortgage payments or been issued with a county court judgement (CCJ) in the last six years - until now. As part of the partnership agreement, Impact is waiving its standard £574 fee, exclusively for Habito customers.
Daniel Hegarty, Founder and CEO at Habito said: “We exist to set people free from the hell of mortgages and we’re constantly working on enabling more and more homeowners have an easier mortgage experience. While we’re currently unable to help those with serious credit issues, we want to be able to provide the best alternative we can. We’re really excited to have found that in partnering with Impact, to offer customers with poor-credit history, the specialist mortgage advice they need.”
Dale Jannels, Managing Director at Impact Specialist Finance said: “Impact have worked diligently in this sector for many years and we are always keen to help clients achieve their dream and put the troubles of the past behind them. We see many clients who, due to their credit history, felt that they either couldn’t get a mortgage or remortgage from their current lender. This is a fresh approach and we are looking forward to working with Habito to help them assist more people with the appropriate solutions.”
The partnership launches during National Stress Awareness Week. Research by Habito found that two-thirds of UK homeowners suffer from mortgage stress, a staggering 5.4 million people. More than a third (35%) of people recorded losing sleep during their application, with the average amount of sleep lost for those people being 7 hours. Other worrying side effects included mood swings, increased arguments, feeling low, eating unhealthy food, decreased libido, snapping at family and friends, drinking more alcohol and not exercising.