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The Irish Sun

Major boost for thousands of Irish as Revolut to launch game-changing new service in MONTHS

REVOLUT is set to launch a game-changing new service for Irish customers in just months. The company is working towards a soft launch of Irish mortgages before a full roll-out at the end of the year. Advertisement 2 Revolut may soon offer mortgages in Ireland Credit: Getty Images - Getty The neobank, with 50 million customers across the globe, aims to help people 'get more from their money'. With over three million customers in The digital bank has been testing out the market and has issued some home loans in They plan initially to start offering Irish home Advertisement READ MORE ON MONEY Revolut Europe Chief Executive, Joe Heneghan, told 'We think the mortgage process that customers go through at the moment [generally] is unwieldy and can be made a lot slicker.' Three Irish banks made up 92 per cent of €12.6billion of mortgages issued in Ireland in 2024. Mr Heneghan explained the banking firm may 'explore' using brokers in the future. Advertisement Most read in Money He also hinted that Revolut would compete on price. The news comes at a time when around a third of all the children in Ireland have a Revolut under 18 account. Watch the video to see how Ali got the farmer to pay off her mortgage Revolut chiefs expect to have onboarded a total of half a million Irish under-18s by the summer with new and innovative features set to further entice parents. Head of Product, Revolut <18 at Revolut, Carlos Spada, said: 'This feature not only helps to alleviate some of the financial pressure on parents but it also equips youngsters with essential financial literacy skills that will serve them well throughout their lives. Advertisement "No matter the sum, whether it's weekly 'pocket money' or funds to serve children for later in life, this really helps.' There are no account fees for the Revolut <18 app itself and children also get a personalised card. They can then link up to Apple Pay or Google Pay on their smartphones. General Manager at Revolut Bank - Ireland Branch, Malcolm Craig said: 'This is yet another example of Revolut having a positive impact on the Irish market — this time for the benefit of children and their parents, many of whom already entrust Revolut with building their own savings balances.' Advertisement As well as allowing children to budget and track their spending in real time, the Revolut <18 app also sends parents an instant notification every time their child uses their card. He added: 'As always, we've delivered this product a little differently to the rest with interest applied daily to help children recognise the value of compound interest.' 2 About a third of all the children in Ireland have a Revolut under 18 account Credit: Getty Images - Getty