Revolut could enter the Irish mortgage market as early as next year.

The company has confirmed it is “actively working tirelessly” towards building a mortgage offering for its Irish customers.

It comes after the UK-based fintech company yesterday confirmed that its Irish customer base reached 2.7 million people at the end of last year.

The company is insisting it is on-course to breach three million people this year – which would mean almost three-quarters of Irish adults are using the app.

Mortgages

In an interview with The Irish Times, published this morning, Revolut Europe CEO Joe Heneghan said the first half of next year was a “realistic” target for the launch of Revolut mortgages.

In a statement to Newstalk this morning, the company said it is actively working towards launching the product.

"We're steadfast in our belief that we can have a positive and significant impact on the Irish mortgage market but have no specifics to share at present,” said Revolut Europe’s Head of Lending Maurice Murphy.

“That said, this is a product we're actively working tirelessly towards building.

“We remain confident that we can bring customers a great mortgage experience, as people would expect from Revolut given our successes across other product areas."

Revolut

Revolut has around 40 million customers around the world and has been steadily adding to its range of services in recent years.

Back in May, the company launched an easy-access savings account offering interest rates of between 2% and 3.49%.

The company also launched car insurance in Ireland last summer – giving drivers the option of reducing their premiums by installing tracking software.

Last week, the first sign of the Irish mortgage market improving for customers was announced – with AIB announcing a 0.25% cut to its fixed rate product.

It is hoped Revolut’s entry to the market could spark further reductions as competition heats up.