Buy property like a cash buyer.
Habito Go works like an express short-term mortgage to let customers pick up property faster than a traditional mortgage buyer, hopefully accessing the discounts that cash buyers usually achieve.
In return, Habito charges 1.95% of the value of the property and 0.5% of the loan value per month until the buyer’s mortgage comes through.
“All our research tells us that home-buying is riddled with uncertainty and a lack of control that most people just don’t feel equipped for. And first-time buyers probably have it the hardest,” said Daniel Hegarty, CEO and Founder of Habito.
“With Habito Go, we hope to alleviate this by arming buyers with the power of a cash offer for their dream home while giving sellers the reassurance of a guaranteed sale that is achievable in a fraction of the time normally required to complete a purchase.”
Habito will conduct its own fast-tracked valuation survey and legal work in order to lend buyers up to 85% of the value of the property from its own balance sheet.
As buyers will essentially be making ‘cash’ offers, Habito expects them to “save thousands” if they’re able to negotiate a cash discount.
Habito also says the buyer may be able to complete on a property in as little as 10 days.