As previously announced, Revolut Bank is taking on the mortgage market. Lithuanians who want to transfer their debt will be the first to benefit. The entire process is digital, based on a mobile application.
Among the announcements for 2025, Revolut included the launch of a long-awaited novelty – mortgage loans. As part of the pilot, the service is currently reaching the first market. Lithuanian customers can sign up in the application for a list of those interested in transferring (refinancing) a mortgage.
The bank has chosen a specific path – pre-approved, personalized offers. As the bank states, this is a non-binding offer based on the client's credit assessment. The terms of the final offer and the decision to grant or not to grant credit may change after the bank has assessed the security or in the event of any changes in the borrower's financial situation.
The app will allow you to check potential mortgage rates and terms in minutes. Financing amounts range from 35,000 euros to 1 million euros with repayment terms of up to 30 years. There will be no fee for moving, but the previous bank may ask for a commission according to the terms of the previously signed contract.
“In the event of interest in the service, Revolut Bank will organize and cover the costs of property valuation and notary services, which will further simplify the process and reduce the financial involvement of the client. Each client applying for refinancing will have a local mortgage manager at their disposal, who will provide individual assistance in the application process (if needed),” – Revolut indicated in the press release.
Polish borrowers may be interested in the space between the financing conditions available to them on the local market and Revolut's offer in Lithuania. From a representative example, we learn that if a customer takes out a mortgage loan of EUR 100,000 for a period of 27 years, the current variable annual interest rate is 3.82% (1.49% + 6-month EURIBOR). The APR for such an obligation will be 3.90%. In Polish banks, the variable interest rate is currently at a level of about twice as high.
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