The lender says home loans are part of its plans “to shake up traditional financial service offerings” and will launch a mortgage service in Lithuania followed by Ireland and France in 2025.

It adds: “The goal is to offer a fully digital mortgage product that is the fastest on the market, aiming to issue instant approval in principle and final offer in one business day subject to asset valuation and any necessary checks.

“Mortgages will form part of the comprehensive credit offering Revolut is looking to build, with the company also exploring overdrafts.”

The announcement came on Friday in London as Revolut co-founders Nik Storonsky, chief executive (pictured), and Vlad Yatsenko, chief technology officer, celebrated the business hitting 50 million customers across 38 countries since its launch in 2015.

It comes after the lender was handed ‘authorisation with restrictions’ banking status, by the Bank of England’s Prudential Regulation Authority in July, after a three-year wait.

The business also promised a range of other services last week including branded ATMs in Spain next year, as well as launching its first business credit product in Europe.

It also adds that its business unit is exploring a buy-now-pay-later service.

Storonsky 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.”