Mortgage Interest Tax Relief
A new Mortgage Interest Tax Relief will be introduced for a year (12 months) for homeowners who had an outstanding mortgage balance of between €80,000 and €500,000 on their primary home on 31 December 2022. This only applies to mortgages where the interest rate increased over the period covered.
The Mortgage Interest Tax Relief will be available on the increased interest you pay on your mortgage in 2023 when compared with the amount you paid in 2022. The tax relief on the increase will be 20%, which is the standard income tax rate, and it will be capped at €1,250.
We will update the details as they become available, but as it is a year on year comparison 2022:2023 we do not envisage a claim before 1st January, 2024.
There are seven different lenders in the mortgage market, some of whom offer competitive fixed rates & incentives to switch your mortgage to them. We have an equal relationship with all of them. Should you wish to speak with us to find out more the simplest way is to ask for a callback – we aim to get back to you within 3 business hours!
