Ireland Mortgage Interest Relief Calculator 2025

What Is Ireland's Mortgage Interest Relief in 2024–25?

Ireland's Mortgage Interest Relief (MIR) is a temporary tax credit introduced in Budget 2024 to help owner-occupiers who faced significantly higher mortgage repayments due to ECB interest rate rises. The relief is worth 20% of the increase in qualifying mortgage interest paid in 2023 (and 2024) compared to 2022, subject to a cap.

The relief is a tax credit — meaning it directly reduces your income tax bill, not just your taxable income. If your qualifying interest increase was €2,000, you receive a €400 tax credit (20% × €2,000).

Who Qualifies for Irish MIR in 2024?

To qualify for mortgage interest relief in 2024, all of the following must apply:

• The property is your principal private residence (where you live — not a rental or holiday home)
• The mortgage was taken out for the purchase, construction, or repair of the property
• The outstanding balance was between €80,000 and €500,000 on 31 December 2022
• You paid more mortgage interest in 2024 than in 2022 (the increase must be positive)
• You are not in arrears (subject to a mortgage restructuring arrangement may affect eligibility)

Relief for 2024 works on the same basis as 2023 — the increase in qualifying interest versus 2022 is calculated, and 20% of that increase (up to the cap) becomes a tax credit.

Cap on Mortgage Interest Relief

The maximum MIR tax credit for 2024 is:

• Single person: €1,250 per year
• Married/civil partners (joint assessment): €2,500 per year
• Married but separately assessed: €1,250 each

These caps were set in Budget 2025. To hit the maximum single-person credit of €1,250, your interest must have increased by €6,250 or more compared to 2022 (€6,250 × 20% = €1,250).