"2025 will be bigger and better. We want to revolutionise banking for the better and we're on the right path to achieve this."
- Nik Storonsky, Revolut's CEO and co-founder
Revolut has announced plans to enter the mortgage market in 2025.
Revolut co-founders Nik Storonsky and Vlad Yatsenko announced the plans at an event in London last week.
The global bank and financial technology company is headquartered in London and offers banking services for retail customers and businesses.
Revolut launched in the UK in 2015 offering money transfer and exchange and more than 50 million customers around the world now use Revolut’s products to make more than half a billion transactions a month.
The company has now confirmed plans to launch its mortgage product in Lithuania followed by Ireland and France in 2025.
The goal is to offer a fully digital mortgage product, aiming to issue instant approval in principle and final offer in one business day subject to asset valuation and any necessary checks.
The company says mortgages will "form part of the comprehensive credit offering Revolut is looking to build", with the company also exploring overdrafts.
Nik Storonsky, Revolut's CEO and co-founder, said: "2024 has been a significant year for Revolut, with millions of new accounts opened and innovative products launched across our markets. 2025 will be bigger and better. We want to revolutionise banking for the better and we're on the right path to achieve this.”
