Mortgage loan scheduled repayments
How do mortgage repayments work?
Repayments are debited from your main Revolut EUR account, or your co-borrower’s Revolut account, on the scheduled repayment date. When you sign the mortgage loan agreement, you allow us to take monthly repayments from your account.
If your Revolut EUR account balance is too low to make your repayment, we can debit a back-up, external card instead (as long as this card is eligible). This back-up card is set by you. To set up a back-up card:
- Go to ’Home’ on the bottom menu
- Tap 'Accounts' below your balance
- Choose the loan you want to manage
- Tap 'More' or 'Details'
- Head to ‘Repayment Methods’ section
- Choose a back-up card
How do I find the repayment schedule?
- Go to ‘Home’ on the bottom menu
- Tap 'Accounts' below your balance
- Choose the loan you want to manage
- Tap 'More'
- Tap ‘Documents’ and 'Statement' to see the mortgage schedule
Repayments change based on variable interest rate (EURIBOR) updates.
We'll also send you an updated statement every time your EURIBOR changes.
How to know when variable mortgage interest is changing
You can see all interest details on the mortgage loan management dashboard. For more precise information, view the mortgage statement. To view the statement, go to the management dashboard, select ‘More’, then select ‘Documents’.
We'll also send you an email whenever interest rates change. The frequency of your variable interest rate update is defined by your selected EURIBOR period. For example, if the three-month EURIBOR applies to your loan, then your variable interest rate will be updated every three months.
Your margin is set on the agreement signing date and your variable interest rate is set on the mortgage disbursal date. Your variable interest rate updates on your repayment date, on the agreed frequency as per the EURIBOR term that applies to your loan.
How to view the outstanding mortgage balance?
You can see all details on the mortgage loan management dashboard. Both borrowers can access the same information about their mortgage loan.
- Go to ‘Home’ on the bottom menu
- Tap 'Accounts' below your balance
- Choose the relevant loan to view the balance
For more precise information, view the mortgage statement. To view the statement, go to the management dashboard and select ‘More’, then select ‘Documents’ on the dashboard.