For many of us, paying out monthly fees for our mortgages is a major hassle. What if there’s a better deal out there? How do you really know you’re on the best rates for your needs? Have you ever considered looking into Habito vs Trussle for the best offers?
Both Habito and Trussle are well-known for leading the charge on hassle-free (and cost-free) mortgage brokerage services. They both came about around the same time, and since the mid-2010s, they’ve made a big impact on how people find lenders that match up with their needs.
I’ve already taken a look at Habito alongside L&C in the past, but thought it was time to head back to the provider to see how it matches up against one of its biggest competitors. Is a Habito mortgage necessarily better than a Trussle rate? Let’s take a look.
Habito vs Trussle: A Quick Summary
- Both Habito and Trussle offer free mortgage lender finding services
- You can get started very quickly – Trussle within a few hours, Habito within minutes
- Habito is a B-Corp registered company, committed to responsible growth
- Habito provides a full mortgage administration service for £2,000
- Neither service will ask for credit details until you’re happy to proceed
- Both services are regulated by the FCA
- You’ll get a dedicated case manager in both cases
- Trussle takes a proactive approach to letting you know if there are better deals
- You can manage your application and deals completely online
- Both compare over 90 different lenders at present
- Habito appears to compare more deals than Trussle at the time of writing
What is Habito?
Habito’s made a bit of a name for itself since it debuted in 2016, acting as a free mortgage broker that reportedly compares more lenders and deals than any other service on the market. That, of course, is where Trussle is stepping up – but a little more on them a bit further down.
Habito is a straightforward mortgage comparison engine that asks for a few details and aims to get you a mortgage deal on the road within a few days. Ultimately, Habito can’t speed up lenders or any of their admin, but they can cut out all the paperwork and red tape that would otherwise slow you down.
The main appeal of Habito lies in the fact you don’t need many details to get started. They led the way a few years ago with talk of an advanced algorithm – and since their inception, they’ve set up shop with some of the biggest and most trusted lenders working in the UK.
You may well have seen Habito’s (perhaps controversial) eye-popping ads over the years, too – which have certainly gotten people talking and taking notice. If you want to see how Habito compares to L&C – another competitor – head over to my review.
How Does Habito Work?
Getting started with Habito is really easy. All you have to do is fill in details about your income and your household, and what you’re looking for. You’ll need to supply some ID and proof of UK residence, too.
You can do all of this online, which is quick and convenient – and those who prefer a human touch, rest easy. A Habito advisor will always check your details and compare deals manually before giving anything to a machine.
Habito will then get back to you shortly – the service claims you could get a mortgage in principle (MIP) as quickly as ten minutes after applying! However, it’s more reasonable to expect a day or two for this to process.
Habito will come back with a deal, and you can decide if you want to proceed. If you don’t, they can find you a second deal or opinion. They get paid somewhat similarly to a commission basis – they want to find you a deal!
There’s no hard credit check for an MIP with Habito. However, if they need to run checks, they’ll ask you beforehand.
Along this process, you’ll have access to your own qualified mortgage broker as well as a dedicated case manager, meaning there’s always someone working on your request. At the end of the process, your chosen lender completes a valuation, and it’ll take a few weeks for your deal to finalise.
Is Habito Efficient?
Habito prides itself on being one of the most efficient and available mortgage broker services on the web right now. You can access the service 24 hours a day, and you can have decisions from Habito case managers within a matter of hours and days.
Habito regrettably can’t do too much to speed up lenders at their end of the chain, but what they can do is help you provide information that’s going to help move matters along.
Is Habito Safe to Use?
Yes – Habito is completely FCA regulated, which means they’re safe to use for all kinds of mortgages and advice. They won’t share any details with parties unless you consent to them doing so – make sure you read all the terms carefully and tick or untick boxes along the way.
Habito’s built up such a following and a foundation of trust that they now offer an end-to-end mortgage application process. You can pay Habito £2,000 to file and handle all the paperwork and admin for you – which means you barely have to tick a box.
On top of all of this, Habito is B-Corp registered, which means they’ve shown commitments to wider society and protecting the environment. That, at least, seems to be a firm reason to get behind this provider.
What Does Habito Charge?
If you’re simply using Habito’s mortgage comparison service, you won’t have to pay a thing. The company gets paid through procurement fees, rather like commission.
That means they get money and take fees when you finalise deals – from insurers, for example.
As mentioned, the company’s full mortgage admin handling service costs £2,000 at flat rate – and for many people, it’s absolutely worth it!
What is Trussle?
Much like Habito, Trussle provides an online mortgage brokerage service that you simply need to feed details into, and let their team handle the nitty-gritty of approaching lenders.
Trussle’s main ethos is making mortgages easier. They believe that applying for and paying for mortgages is needlessly complex and expensive, which is why their engine is one of the easiest to get into.
Offering 24 hour support, Trussle offers access to more than 12,000 different deals across 90 different lenders. They came into being just before Habito, in 2015 – but since then, the services have been locking horns.
Authorised by the Financial Conduct Authority, Trussle works with household brands and names such as HSBC, Natwest, Virgin Money, Santander, Barclays and more.
How Does Trussle Work?
Trussle’s application system lets you fill in and submit all the details needed for your lender search as quickly as within 15 minutes. The Trussle team then looks carefully for a deal that fits what you’re searching for, and they aim to get back to you as soon as possible.
In fact, Trussle states that you can expect a response within four hours on average. Providing you complete all your details honestly, there should be no reason for this process to drag out.
Then, you’ll need to provide proof of ID and address, which the Trussle team will then check and consult you about within two days. This may take longer, however, if you need to provide clearer information or alternative documents.
You’ll then have the support of a case manager, who may check your credit file – after getting your permission to do so. They’ll run a soft credit check at the start of the process, meaning there’s no need to worry about your details right away.
At the end of the process, your case manager lets you know what you can expect from lenders, and the lender you choose runs a valuation, before sending you a final offer.
Is Trussle Efficient?
Trussle is notable for being one of the most efficient mortgage brokers of its kind. They’ll normally get back to you within four hours of submitting an application, and it won’t take more than a few minutes to fill out the necessary forms (and send documents).
Is Trussle Safe to Use?
Trussle proves itself to be one of the safest pairs of mortgage brokering hands on the web. They use bank-grade encryption to protect your data, and much like Habito, they won’t share your data unless you explicitly consent for them to do so. Therefore, again, it’s worth checking those tick boxes before you get too far into the process!
Trussle is, again, FCA backed, and their team will always get in touch with you if they find deals or offers they feel are better suited to your situation. That means you don’t have to worry about being led up the garden path.
What Does Trussle Charge?
Here’s where Trussle and Habito really do come to blows – both are, as comparison engines, completely free to get started with. As with Habito, Trussle only ever makes money through procuration and commission rates.
That said, Trussle does advise that – in some cases – they may have to charge fees if you apply with a low or problematic credit score. This is simply insurance on their part, but it’s worth accounting for just in case!
Trussle breaks down what they get paid in deal documentation you’ll receive along the way, so there’s always transparency.
Habito: Pros and Cons
While Habito’s fast, free mortgage brokerage service may seem like a dream come true, there’s always some pros and cons you need to consider.
- Reportedly works with more products and deals than any other rival
- Works with more than 90 different lenders
- Friend referral codes available for extra bonuses
- Service is available 24/7
- Application and processing takes place almost entirely online
- Fully regulated by the Financial Conduct Authority
- Runs on a unique system / algorithm to find you the best deals
- Will handle your whole mortgage administration for £2,000
- B-Corp registered company
- May be a little off-putting to people who prefer a more human approach
- Can take weeks for mortgages to settle down
Trussle: Pros and Cons
On the face of it, Trussle is just as appealing as Habito, and for good reason. However, as we’ve seen, there are a few things that separate the two services, meaning it does pay to dig a little deeper. Here’s everything you need to know.
- Trussle compares more than 12,000 deals with more than 90 lenders
- Dedicated advisors and case managers
- Answers on average are available within four hours
- Will inform you if switching is worth it after you secure
- Encrypted data every step of the way
- £100 friend referral bonus available
- Reportedly linked to Zoopla
- May have to pay a fee if you have poor credit
- Doesn’t offer a full administration service at this time
Habito vs Trussle: Conclusion
In the Habito vs Trussle battle, there’s no clear winner. However, Habito has a few features that may make it appeal to some mortgage seekers over others. For example, its commitment to B-Corp status is likely to impress anyone looking for responsible lenders.
What’s more, Habito offers an additional service that allows you to run all of your administration through their team. The company also states that they compare more deals than any other broker in their competition range.
Trussle has plenty going for it. It’s free to most users, and the team’s amazingly speedy and helpful in finding lenders and deals that tie directly into what you need and want. Trussle also provides proactive care, meaning a case manager will always get back to you if they think there’s better offers on the table.
Ultimately, I think it’s worth giving both Habito and Trussle a try – and see which deals you can unearth!