"Diversity helps significantly enhance outcomes"
Surveying the mortgage industry that’s been his professional life for some 20 years, Ying Tan (pictured), CEO of digital broker Habito, has acknowledged how it’s changed for the better - and potentially for greater business success.
“When I first came in, I was a young lad, I was 30-years-old,” Tan told Mortgage Introducer. “I'm Asian and, you know, my profile demographic probably didn't fit. I've seen that change massively over the last five years, from a DEI perspective - more women, more diversity, younger people, and I think that diversity helps significantly enhance outcomes.”
The son of hard-working Malaysian parents, Tan can’t be certain he experienced prejudice as he established himself in the industry. “It's difficult to say,” he observed. “I'm always a glass-half-full person anyway. I've always grown up in this environment, so I don't consciously think I did, certainly in the early days, the industry was quite cliquey - was that because of my age and my colour, or was it just cliquey? I certainly don't experience that now.”
Tan’s passionate endorsement of diversity, equity and inclusion flies in the face of what’s happening across the Atlantic in the United States, where the Trump administration is busy scrapping policies that actively promote equality. “I'm very proud that at Habito we lead a massively diverse team,” he told Mortgage Introducer. “I think that needed changing and has changed. Fifty per cent of our staff are female, we have a large percentage of non-white people, we have an LGBTQ representation, we have one or two people that identify as disabled. I don't necessarily purposely, consciously, look for that, but people of different backgrounds and different beliefs bring balance and will ensure we build something that is more global.”
Tan is quite clearly an entrepreneur to his core, and seemingly one with heart, referencing his late parents, his five children and the well-being of his employees throughout our conversation. Starting out as an investment banker, Tan rethought his career in the fall out of 9/11, which he missed by 24 hours, having been in New York the day before. He turned to property instead. His biggest career achievement, arguably, is founding the mortgage brokerage Dynamo, which he exited in 2021, leaving it in the hands of Connells, after more than 15 years. Further investments followed in fintech businesses such as Propflo and Knowledge Bank, before Tan took the helm of Habito, in 2023, as its largest shareholder. “It was a phenomenally strong technology platform,” he explained, “with wonderful people, but maybe some of the commercial side of the business wasn't done as well. With my background, that was one of my strengths. I thought I was well placed to come in, save the business and scale it.”
Read more: Why don't more mortgage brokers go self-employed?
Inspired by his parents
The work ethic that has underpinned Tan’s success at Habito, and throughout his career, owes much to the influence of his parents. “My dad came over in 1958,” he said. “He hitchhiked with £20 in his pocket – it took him four months. He met my mum over here - she was a nurse at the time. Seeing their hard work, the sacrifices that they made over many years, each working two jobs, gave me that drive. So, my entrepreneurship definitely comes from seeing how hard my parents worked and sacrificed to give me and my sister opportunities. I know they were super proud of me.”
While Tan acknowledges his ambition, it isn’t just about making money for money’s sake. “It's the journey that excites me,” he shared. “I am an investor, I am a businessman and I put money in looking for a return, but I don't want money at all costs. I've always tried to lead with transparency and authenticity. I think failing to be transparent leaves people second guessing. One of my greatest joys is the fact that I've impacted so many people's lives. There are a lot of senior people in the industry who I brought on. They were shelf stackers or burger flippers at McDonald's, who came in on a training programme. They're now sales directors, some of them run their own businesses. They tag me on LinkedIn and say, ‘Thank you for giving me the opportunity all those years ago,’ and it gives me immense pleasure.”
So, how would Tan advise others in the industry to follow in his footsteps to success? “You’ve got to be hungry, you’ve got to be driven,” he said. “I always use the words politely persistent. Embrace the opportunities, use technology to make you faster, more efficient in what you're doing, so you can focus on the advice part, because that's what advisers should be doing - and don't be afraid to push the boundaries.”
He continued: “My best money making tip for business owners is know your numbers, because if you understand your numbers, you know what levers to pull. It's one of the reasons I was able to come in and turn around the business at Habito, from a £1m loss-a-month to the profitable business that we are now. As an adviser, it’s about your sales numbers. Don't just wait for business to land - what's your forecast? How much business are you're looking to write? How many leads do you need to come in to write that? I think the best advisers and entrepreneurs in this industry that I've come across understand their numbers and know what levers they need to pull to maximise them, and if you get that right, you can make money in this business.”
And with the human touch that seems to define much of Tan’s approach to his work, he further urged: “Don't just think of it as a transaction to get a procuration fee - they're your customers. Think of it as a relationship, nurture their journey. Think of it as a long-term, life relationship and business partnership, and that's where you'll get the most value and repeat business, which will ultimately ensure that as a broker you are successful in what you do.”
