The DMA marries all the elements of a customer’s financial life, such as employment and salary, with real-time market mortgage rates to calculate a monthly payment. According to habito the DMA explains the impact consumers’ decisions will have on each mortgage configuration as a traditional mortgage broker would, but in a fraction of the time – average 10 minutes. And it can search hundreds of products.
In designing the new system, habito analysed hundreds of advice interviews in order to understand what consumers needed and what formed the basis of informative advice. As a result, the DMA’s chat-like interface provides an unbiased, conversational experience, without the need for lengthy in-person queues, waiting on hold or paying a premium for advice.
Daniel Hegarty, CEO and founder of habito: “Finding the right mortgage product in the UK is like finding a needle in a haystack. Britons are crying out for some innovation and clarity in an outdated and overwhelming mortgage market.
“Our digital mortgage adviser is a huge step forward in making mortgage advice accessible for consumers in the way they need it most: unbiased, always available and most importantly free.”
