Habito launches first open mortgage API

Online mortgage broker and lender Habito has launched an Application Programming Interface (API) that allows partners’ customers to use its proprietary whole-of-market mortgage search algorithm and its mortgage calculation tools, from inside the partner’s app.

Its first two partners to use the API - Landlord Studio and Emma - will be using it for buy-to-let remortgaging and residential remortgaging respectively.

Habito’s white-labelled API will appear inside the partner’s app as a set of questions for a customer to fill in about their existing mortgage deal. That data will then be fed into Habito’s algorithm which searches the whole of the market - from over 20,000 products - to find the best mortgage deal and work out how much the customer could save.

The search returns those deals which are considered ‘best’ according to their true cost. This ‘true cost’ calculation includes both the product’s interest rate, but also considers additional factors such as fees and incentives such as cashback, free legal work or free valuations.

These mortgage product suggestions can give customers a strong indication of what their new deal could look like, and allow them to search for suitable properties if they are a first time buyer, or get their paperwork in order if they’re remortgaging, to make a full application.

To continue their mortgage or remortgage, they would then need to create an account with Habito and speak to one of its mortgage experts via live chat.

Daniel Hegarty, founder and chief executive at Habito said: “It’s great that we can now bring our innovative tools and solutions to our partners, in-app, and together, can help consumers avoid mortgage hell.”

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