Revolut has confirmed to RTÉ News that it plans to enter the Irish mortgage market later this year, reports RTE.
According to The Irish Times, which first reported the news, the fintech company is preparing for a soft launch of its home-loan services in Ireland ahead of a full rollout towards the end of 2025.
Joe Heneghan, Chief Executive of Revolut Europe, told the paper that “it would probably be Q3 for the testing and Q4 for the launch in Ireland”, reports RTE.
The company, which holds an EU banking licence through Lithuania, has already started providing mortgages in that country.
Revolut, which boasts around three million customers in Ireland, said it intends to begin offering mortgages through its app, supported by customer service over the phone, reports RTE.
The company also said it might use brokers at a later stage.
The UK-based bank previously announced plans to launch mortgage products in both Ireland and France, along with Lithuania, reports RTE.
Earlier this week, Revolut revealed that its pre-tax profits had jumped by 149% last year, reaching £1.1 billion (€1.28 billion).
Revolut is now widely considered Europe’s most successful digital-only fintech company.
With a valuation nearing €40 billion last year, the company has been open about its ambitions to take on traditional banks, especially in the mortgage sector, reports RTE.
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