Multi - million pound tech start - ups , Habito and others , recently introduced robo - advisers to compete with human brokers for a share of the UK ’s lucrative multi - billion pound mortgage market . Habito claims to have developed a unique algorithm that instantly searches over 100 mortgages to find the best deal for both first- and second - time buyers while Trussle ’s technology compares current borrowers ’ mortgages with 10k+ similar products to help them manage their finances in a more effective manner . Both researchers suggest that machine learning ’s ability to identify data patterns and subtleties in the market could result in significant time and cost savings . However , they suggest it is likely to be some years before human brokers are affected by this technology , as currently 70 % of mortgages are still found in the traditional marketplace .
Multi-million pound tech start-ups, Habito and Trussle, recently introduced robo-advisers to compete with human brokers for a share of the UK’s lucrative multi-billion pound mortgage market. Habito claims to have created a unique algorithm that instantly searches over 100 mortgages to find the best deal for both first- and second-time buyers while Trussle’s technology compares current borrowers’ mortgages with 10k+ similar products to help them manage their finances in a more effective manner. Both companies suggest that machine learning’s ability to identify data patterns and subtleties in the market could result in significant time and cost savings. However, they suggest it is likely to be some years before human brokers are replaced by this technology, as currently 70% of mortgages are still found in the traditional way.