To be entitled to tax relief on your mortgage interest, the increase must meet two requirements:
Tax relief on mortgage interest is, in principle, not available with an interest-only mortgage. That being said, you can still claim tax relief on mortgage interest if you meet certain conditions.
"}},{"componentType":"paragraph","title":"Gross? Net?","richBody":{"value":"Your gross monthly payment is the amount (interest + repayment or deposit) you pay ING every month for your mortgage. If you qualify for tax relief on mortgage interest, you will get some of the interest you paid back from the Dutch Tax Administration. You can choose whether you get this back every month or once a year. Your net monthly payment is the amount you pay ING for your mortgage minus your (monthly) tax relief.
"}},{"componentType":"paragraph","title":"Mortgage is tax-deductible for 30 years","richBody":{"value":"Since 1 January 2001, the maximum period for tax relief on mortgage interest has been 30 years. If you already had a mortgage before 1 January 2001, the previous years don’t count and the 30-year period started on 1 January 2001. This means that many people in the Netherlands will lose their right to tax relief in 2031, resulting in significantly higher net monthly payments. This may also be the case for you.
If you first took out a mortgage for your own home after 2000, you will be entitled to 30 years of tax relief on your mortgage interest from the moment you took out the mortgage, provided you meet the conditions. If you increased your mortgage after that date (e.g. for a new kitchen) you will be entitled to 30 years of tax relief over that new part from the date of the increase. You need to have a repayment mortgage (i.e. a Linear or Annuity mortgage) and live in the property yourself.
If you sold a home with positive equity after 2000, you will probably have built up a positive home equity reserve. This home equity reserve affects the tax relief on mortgage interest for your new home. And if you increase this mortgage later on, the interest may only be partially tax-deductible, or not at all. For more information, check the website of the Dutch Tax Administration.
"}},{"componentType":"paragraph","title":"Which costs are tax-deductible?","richBody":{"value":"If you’re entitled to full tax relief on the mortgage increase, you can usually deduct the one-off funding costs from your income in Box 1 on your tax return. One-off funding costs are:
Check the Tax Administration’s website for a full overview of tax-deductible costs.
"}},{"componentType":"linkList","iconTitle":{"title":"Everything you need"},"textLinks":[{"url":"/particulier/hypotheek/jouw-hypotheek/verhogen-zonder-advies","text":"No-Advice Mortgage Increase (Dutch)"},{"url":"/en/personal/mortgage/advisory-fees/new-mortgage-increase","text":"Mortgage increase fees"},{"url":"/particulier/hypotheek/jouw-hypotheek/kennis-en-ervaringstoets","text":"Knowledge and experience test (Dutch)"},{"url":"/particulier/hypotheek/jouw-hypotheek/overwegingen-hoogte-hypotheek","text":"Considerations regarding mortgage amount (Dutch)"},{"url":"/particulier/hypotheek/jouw-hypotheek/keuze-rentevaste-periode","text":"Choosing a fixed-rate period (Dutch)"},{"url":"/particulier/hypotheek/actuele-hypotheekrente/actieve-betaalrekening-korting","text":"Active Current Account Discount (Dutch)"},{"url":"/en/personal/mortgage/your-mortgage/nhg-and-mortgage-increase","text":"NHG and mortgage increases"},{"url":"/particulier/hypotheek/jouw-hypotheek/keuze-looptijd","text":"Choosing a mortgage term (Dutch)"},{"url":"/particulier/hypotheek/jouw-hypotheek/inkomensrisicos","text":"Income risks (Dutch)"},{"url":"/particulier/hypotheek/jouw-hypotheek/waarde-van-de-woning","text":"Home value (appraisal or ING Calcasa desktop appraisal) (Dutch)"},{"url":"/en/personal/mortgage/your-mortgage/building-fund-account","text":"Building fund account"},{"url":"/particulier/hypotheek/jouw-hypotheek/wanneer-langs-de-notaris","text":"Visiting a notary (Dutch)"},{"url":"/en/personal/mortgage/your-mortgage/additional-repayments","text":"Additional repayments"}]}]},"legalZone":{"flexComponents":[{"componentType":"paragraph","title":"Good to know","richBody":{"value":"The English text of the website is a translation of the Dutch original version. This translation is intended for the customers convenience only. In case of any discrepancies between the two versions, the original Dutch version shall prevail. The mortgage offer and contract will be signed in Dutch. Also, all further communication after signing the mortgage contract will be in Dutch. You acknowledge and accept this. If any assistance or clarification is needed, we recommend contacting your mortgage advisor or to call our customer service via the ING app.
"}}]}}}