Mortgage interest tax relief is a tax benefit that allows individuals in the United Kingdom who own their own home to claim a tax deduction for the interest that they pay on their mortgage. This can reduce the amount of tax that homeowners are required to pay on their income.

Mortgage interest tax relief is available to individuals who own their own home and who pay interest on a mortgage to buy, repair, improve, or maintain their home. The relief is claimed by reducing the amount of taxable income by the amount of mortgage interest that is paid.

The rate at which mortgage interest tax relief is available depends on the individual's tax bracket. Higher and additional rate taxpayers (those with an income above £50,000 per year) are entitled to a tax deduction at the basic rate of income tax (currently 20%).

Mortgage interest tax relief is being phased out in the UK as part of a wider reform of the tax system. From April 2020, the relief will only be available at the basic rate of income tax, and it will be gradually withdrawn over the next few years. If you are a homeowner and are concerned about how the changes to mortgage interest tax relief may affect you, it is a good idea to seek advice from a tax professional or from HM Revenue and Customs (HMRC).