Monzo’s acquisition of Habito: What will it mean for the larger mortgage market?

Monzo has acquired online mortgage brokerage Habito, marking a significant move into the mortgage market and a first-of-its-kind deal within the sector.

The acquisition has caused a stir across the mortgage industry. Habito operates as a whole-of-market mortgage broker, while Monzo is a digital bank that does not currently offer its own mortgage products or in-house mortgage advice. Bringing the two together raises important questions about how mortgages may be accessed and advised on in the future.

The key question for brokers and consumers alike is what impact this will have on the wider mortgage broker market. With Monzo offering a full-market mortgage service directly within its app, will borrowers be drawn to the convenience of managing everything in one place, or will this simply mirror the existing broker landscape, with a major bank now attached to one of the competitors?

Only time will tell whether this move reshapes how customers engage with mortgage advice or reinforces the value of independent, relationship-led brokerage.

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Nicola Henton, Hello Mortgage’s Mortgage and Protection Adviser, said this:  

“Monzo’s acquisition of Habito is an interesting development for the mortgage market. Integrating a broker into a banking app may change how some consumers access mortgage advice, particularly those who value speed and convenience.”

“However, mortgages remain one of the biggest financial decisions people make, and many borrowers will still value personalised, independent advice and a trusted broker relationship.”

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For more information and for any mortgage advice, speak to one of our advisers today!  

Tel: 0800 292 2557

Email: hello@hellomortgage.co.uk

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