Online mortgage broker launches 'first platform for self-employed and homebuyers with poor credit ratings'

A NEW online mortgage broker is out to match would-be homeowners with complex or unique mortgage needs with the right loans for them.

Haysto claims to be the first online mortgage platform specifically for the self-employed and those with a bad credit rating.

It offers “a personalised approach to help those turned down by automated checks and traditional lenders”.

The site is free to use and you pay a fee once your assigned broker successfully completes your mortgage.

Users are charged different fees depending on how complex the situation is, rather than a percentage of the mortgage amount.

Around 60 per cent pay around £995.

Paul Coss, co-founder of Haysto explained: “Self-employment and poor credit histories are on the rise in the UK, so a growing number of people applying for mortgages simply don’t fit the traditional financial mould.

“Haysto doesn’t rely on automation. We believe strongly in: no more computer says “No”. Our platform provides the market’s most personalised mortgage experience by matching customers to specialist mortgage brokers based on their unique situation.”


The new service comes as research has shown that half of mortgages for people who are self-employed or have bad credit aren’t available directly from lenders and are only accessible through specialist brokers.

This can take a toll on mental health.

Of those who’ve experienced rejection when applying for a new mortgage, nearly a third told Haysto that they were left feeling depressed.

It is helping customers like Udara Bandera, 52, who turned to Haysto after finding himself £25,000 in debt and with a poor credit rating due to a sustained period of unemployment. 

He had been turned down by his bank for a mortgage despite eventually securing a permanent job that allowed him to start paying off his debts, but is now getting ready to move his family into their new home.

Udara says: “I spoke to six or seven mortgage advisors but they were all telling me different things and it was so confusing. They didn’t seem to understand my situation and I didn’t know who I could trust.”

“I had a lot of support from my specialist Haysto broker and I didn’t feel judged like I had previously. My broker took me through all my options, gave me honest advice and completely put my mind at ease for the first time in ages.

“Thanks to this mortgage and the support I have received from Haysto, I have been able to start my life again. 

"I need to keep slowly building up my credit, and the marks on my credit file won’t go away – even once the debt is paid back – but I am in a much better position compared to any other time over the last five or six years.”

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