How does the temporary mortgage interest relief work in Ireland for 2024?

Ireland introduced a one-off temporary mortgage interest relief for 2023 and 2024 to help homeowners dealing with rising interest rates. This is a separate measure from the old mortgage interest relief that was phased out by 2021 — it is specifically targeted at tracker and variable rate mortgage holders who have seen their rates increase since 2022.

Who qualifies?

To claim the 2024 mortgage interest relief, you must:

• Have had an outstanding mortgage balance of between €80,000 and €500,000 on 31 December 2022
• Be the owner-occupier of the property (not a landlord)
• Have paid a higher amount of qualifying interest in 2024 than in 2022

How much relief is available?

Relief is available at the standard rate of 20% on the increase in interest paid in 2024 compared to 2022. The maximum relief is capped at €1,250 per property (based on a maximum interest increase of €6,250). For a joint mortgage, the cap is €1,250 per property in total, not per person.

How to claim:

You claim the relief through myAccount on Revenue.ie, or through your solicitor/tax agent if you prefer. PAYE employees can submit the claim by adding it to their credits through the PAYE Services section. Self-assessed taxpayers include it on their Form 11. You will need a statement from your lender showing interest paid in 2022 and 2024.

Important: This relief applied to 2023 and 2024 only. It has not been extended to 2025 in Budget 2025. If you did not claim for 2023, you can still go back and claim — Revenue's four-year lookback rule applies.