In a strategic leadership reshuffle, the digital mortgage broker, Habito, today announced the appointment of Ying Tan (pictured) as its new chief executive officer, pending FCA approval.
Tan, a well-known figure in the mortgage industry and former CEO of Dynamo, will also acquire a significant stake in the business.
The announcement coincides with the closure of Habito’s recent funding round, spearheaded by Tan, and backed by existing investors such as Augmentum Fintech, SBI Investment, Volution, and Bootstrap Europe.
The injection of capital comes as Habito reports strong performance in the first quarter of 2023, despite a challenging market environment. The new funding is poised to bolster Habito’s customer-centric offerings, integrating its acclaimed advisory services with its innovative, proprietary technology.
Daniel Hegarty, who is stepping down as Habito’s founder and CEO after seven years at the helm, saidd: “Over the past seven years, we’ve been on a mission to make the process of owning and financing a home easier.
“Habito has helped more than half a million people with their mortgage needs and has doubled down on customer service during a period of great change and uncertainty in the UK housing market.
“Leading such a passionate, skilled and dedicated team during this time has been an honour. I’m tremendously proud of all that we’ve achieved together and I’m excited for all that the future holds for Habito. Ying is a mortgage industry titan and a phenomenal operator and I can’t think of a leader better suited to the role.”
Tan added: “I’ve admired Habito from afar since its launch in 2016 and I’m beyond thrilled to have the opportunity to take the company to the next level.
“With the cost of living biting, energy prices sky-rocketing and interest rates at historic highs, it’s more important than ever for UK mortgage-holders and first-time homeowners to have access to the very best mortgage and home-buying advice.
“I’ve spent nearly 20 years in the industry and am passionate about delivering stellar customer outcomes and driving positive change within the mortgage market. 2023 is going to be another milestone year for Habito’s brokerage and I’m excited for all that’s to come.”
Since its inception in 2016, Habito has processed mortgages worth more than £10bn, providing a comprehensive and jargon-free approach to its 500,000 customers.
The company’s landmark achievement came in 2020 with the launch of Habito Plus, the UK’s first fully integrated home-buying service.
Ying Tan, a former investment banker at Goldman Sachs and a qualified accountant, has won over 50 industry awards throughout his career. Prior to joining Habito, Tan founded and led Dynamo, growing it to 200 staff before selling it to Connells, the UK’s largest property services business, in 2021.
He has since invested in several fintech ventures, including Propflo and Knowledge Bank, where he serves as non-executive chair.
Joining Tan at Habito will be Penny Desborough, an experienced operator, who is set to become the vice president of operations, adding further impetus to Habito’s leadership team.
