Thinking of buying a home and want to structure your mortgage in a smart way? Then it’s important to understand mortgage interest tax relief. At Crefin & Partners, we help you as mortgage advisors clearly understand how it works and how you can make the most of it. Below, you’ll find everything you need to know about mortgage interest tax relief: what it is, how it works in practice, the conditions you must meet, and more. Feel free to schedule a free, no-obligation consultation to discover how you can reduce your monthly costs!
Mortgage interest tax relief is a tax benefit that allows you to deduct the interest you pay on your mortgage from your taxable income. As a result, you pay less income tax, which lowers your net monthly housing costs.This benefit only applies to the mortgage on your primary residence (the home you live in yourself). Since 2013, the rules have become stricter: you only qualify for interest relief if you also repay your mortgage, for example through an annuity or linear mortgage.If you have an older mortgage (from before 2013), more favourable rules often apply. At Crefin & Partners, we explain clearly how you can make the most of this benefit for your home.
For example, if you have an annuity mortgage of €200,000 with an interest rate of 3%, you pay about €6,000 in interest in the first year. If you fall into a 37% tax bracket, you can deduct that €6,000, resulting in roughly €2,220 less tax payable. That equals about €185 in monthly benefit.As you repay your mortgage, the interest decreases, and so does the tax benefit. The tax authorities provide this benefit through your annual tax return or a provisional tax refund.For mortgages taken out from 2013 onwards, you must fully repay the loan within 30 years to remain eligible for tax relief. Our mortgage advisors are happy to calculate free of charge what this means in your specific situation.
Mortgage interest tax relief offers several significant benefits:
Our mortgage advisors help you make the most of this advantage.
There are also some limitations:
At Crefin & Partners, we advise you on how to combine tax relief with the right mortgage structure.
Mortgage interest tax relief is especially relevant for:
Our mortgage advisors review your personal situation and income to ensure you benefit as much as possible.
You are eligible for mortgage interest tax relief if:
At Crefin & Partners, we check whether you meet all requirements and guide you through the process.
The tax relief itself does not cost anything, but your mortgage must meet the required conditions. Our advice is always offered at a fixed fee and may be tax-deductible. Please check our rates page for current pricing.Our mortgage advisors ensure your mortgage and tax relief are perfectly aligned.
At Crefin & Partners, we make mortgage interest tax relief clear and easy to understand. As your mortgage advisor, we offer:
How Do I Claim Mortgage Interest Tax Relief?
You can claim it through your income tax return or via a provisional tax refund from the tax authorities. We are happy to help you with this.
Does Mortgage Interest Relief Also Apply to Interest-Only Mortgages?
Only for mortgages taken out before 2013. For new mortgages, repayment is mandatory.
What If I Rent Out My Home?
Then you lose the right to mortgage interest tax relief. It only applies to your primary residence.
What Does Your Advice Cost?
The first consultation is always free. For full advice, we charge a fixed fee, which may also be tax-deductible.
Want to make the most of mortgage interest tax relief when buying your home? Schedule a free, no-obligation appointment with Crefin & Partners. Our mortgage advisors will help you find the best mortgage with maximum tax benefits. Feel free to contact us or request your free consultation today!
