If you’ve ever wondered about the ins and outs of Mortgage Interest Tax Relief, you’re in the right place. Over the past while, there had been calls for the reintroduction of this relief, sparking debates on its potential impact. Well, the Budget 2024 confirmed it, the mortgage interest tax relief is back to lend a hand to nearly 160,000 homeowners across Ireland. 

But what is it, and how does it work? Am I entitled to the mortgage interest tax relief? How can I claim it? Well, we here at Irish Tax Rebates are here to break it down for you. 


mortgage interest relief


What is Mortgage Interest Tax Relief?

The Mortgage Interest tax relief has now been introduced on mortgages paid between 2022-2023 and aims to provide financial support to homeowners by mitigating the financial burden associated with mortgage interest payments.

This measure was proposed in the 2024 Budget announcements on the 10th of October 2023 to assist those who were affected by interest rate hikes by the ECB in 2023. 


How to Claim Mortgage Interest Tax Relief 

You can claim your tax relief on your mortgage interest from the 1st of February 2024 with Irish Tax Rebates

Get your documentation ready and email us the below information to mortgage@irishtaxrebates.ie ahead of time.
Here’s the documentation you will need:

  • Your Mortgage Interest Certificate for 2022 and 2023.
  • Your local property tax number.
  • The value of your outstanding mortgage as of 31st December 2022.



How Does Mortgage Interest Tax Relief Work?

The Mortgage Interest Tax Relief is given on the increase of the interest you paid in 2023 compared to 2022, and the difference will be allowable at 20%, which may result in a rebate for you. The mechanism involves a tax deduction offset against the taxpayer’s income tax liability and will be capped at €1,250.


How Much is Mortgage Interest Tax Relief?

The amount of Mortgage Interest Tax Relief varies based on specific conditions and recent changes. As of the latest information, the Budget 2024 introduced a one-time tax relief of 20% on the increase in the interest paid on a mortgage between the end of 2022 and 2023, with a maximum relief capped at €1,250. 

This Mortgage Interest Tax Credit is a temporary measure and is not available to homeowners who took out a mortgage after 31 December 2022.


Who Can Claim Mortgage Interest Tax Credit?

The relief is applicable to individuals with a home loan ranging from €80,000 to €500,000. However, it’s essential to review the specific eligibility criteria and any changes introduced in relevant budgetary measures for the most accurate information.


Is Mortgage Interest Tax Relief Still Available?

Yes, Mortgage Interest Tax Relief is still available; this tax relief was reintroduced among the Budget 2024 announcements. It stated that a one-year 20% mortgage interest tax credit would be given due to the increased interest paid on mortgages between 2022 and 2023.


Am I Entitled to Mortgage Interest Tax Relief? 

 You are entitled to this mortgage interest tax credit if:

  • You have had an outstanding mortgage balance of between €80,000 and €500,000 on 31 December 2022.
  • Your interest has increased in 2023 comparative to 2022’s interest paid.
  • The mortgage is be for your principal private residence.
  • You must comply with your Local Property Tax obligations for the property.


So, do I qualify for mortgage interest relief? 

You do if:

Mortage Interest Requirements

Mortage Interest Requirements

Mortage Interest Requirements

Mortage Interest Requirements

Tracker Mortage


Why Can’t I Claim My Mortgage Interest?

If you are unable to claim your mortgage interest, several factors could be at play. Here are some potential reasons you can’t claim your mortgage interest tax credit: 

  1. Your mortgage is less than €80,000.
  2. Your mortgage is more than €500,000.
  3. Your mortgage was taken out for investment, rental or a second property.
  4. You are not compliant with Local Property Tax.
  5. Your interest was at a fixed rate – so there was no change in the interest.


Apply for Mortgage Interest Relief!

Make sure you have the below documentation ready and apply with Irish Tax Rebates today!


Irish Tax Rebates is a trusted tax agent with 20+ years of experience in the tax rebate industry and with over 325,000 customers in Ireland. Our team of qualified tax accountants are very knowledgeable about the tax system and fight hard to get you every cent you are owed. Check out our excellent Trust Pilot reviews and apply for your rebate today!


New Customers: Apply here.

Existing Customers: Apply For Additional Rebate