It also has a new vice president of operations
Digital mortgage broker Habito has announced the appointment of mortgage multi-entrepreneur, Ying Tan (pictured), as its next chief executive, subject to approval by the Financial Conduct Authority.
Tan, now a significant shareholder in the business, is replacing Habito founder Daniel Hegarty, who is stepping down as CEO after seven years at the helm. Seasoned executive Penny Desborough will also join Habito’s senior leadership team as vice president of operations.
A qualified accountant and former investment banker at Goldman Sachs, Tan has won over 50 industry awards, both personally and for his businesses. He founded mortgage brokerage Dynamo in 2006 and grew it to 200 staff before exiting to Connells, one of the UK’s largest property services businesses in 2021. He has since invested in a number of fintech businesses, including Propflo and Knowledge Bank, where he is currently non-executive chair.
The new leadership comes as Habito closes its latest round of funding, led by Tan and supported by Habito’s existing investors, Augmentum Fintech, SBI Investment, Volution, and Bootstrap Europe.
Habito said that it experienced strong volumes in the year’s first quarter despite challenging market conditions and that it continues to harbour bold ambitions for the rest of the year and beyond.
Since 2016, Habito has submitted more than £10 billion worth of mortgages. In 2020, Habito introduced its home-buying service, Habito Plus, bringing together home-financing, surveys, and conveyancing under one roof.
“Over the past seven years, we’ve been on a mission to make the process of owning and financing a home easier,” Hegarty commented. “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.”
Commenting on his appointment, Tan said he was thrilled to have the opportunity to take the company to the next level.
“Dan has led Habito with creativity and vision,” he remarked. “I share his enormous passion for innovation, technology, and commitment to solving real-world problems for customers. I am super proud to take the baton and turbocharge Habito’s growth for the next stage of its journey.
“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.”
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