Revolut is considering entering Australia's mortgage market, according to Revolut Australia CEO Matt Baxby. The company has 1.2 million local customers and recently won its first Asia-Pacific banking license.
The plan would extend Revolut into home lending, offering the largest relationship product yet to its customers. No mortgage product or interest rate has been announced, and there is no launch date.
Banking License
Revolut Payments Australia was granted permission to operate as an authorized deposit-taking institution last month, allowing it to take deposits and expand credit products directly. The company has started offering savings accounts and credit cards since receiving the approval.
Market Competition
Australia's four largest lenders control at least 70% of banking, including mortgages and deposits. Revolut's existing Australian users provide a starting pool for loans, with the company recording A$70.8 million in 2025 revenue, up 74% from the prior year.