DNB president again calls for end to mortgage interest relief
Olaf Sleijpen also calls the scheme a tax benefit with little economic purpose as the housing market cools.
DNB president Olaf Sleijpen is again calling for the complete phase-out of mortgage interest relief. He says the scheme favours homeowners over renters and can push up house prices, but stresses that he cannot predict when prices will fall.
Sleijpen made his remarks on Friday during a Room for Discussion event at the University of Amsterdam. In his view, abolition remains sensible, even now that house price growth is slowing. The president says the Dutch economy could absorb a fall in house prices.
Mortgage interest relief reduces the taxable income of people who pay interest on debt for their own home. As a result, they pay less income tax than they would without the relief. The scheme applies subject to conditions and has been gradually restricted for years, including through a maximum rate and repayment rules.
DNB has previously expressed criticism of the scheme. The central bank argues that the relief can stimulate demand for owner-occupied homes and thereby push up prices. The scheme can also encourage households to take on relatively high debts.
For homeowners, a complete phase-out would not automatically mean a loss equal to that amount. The effect depends on interest rates, income, debt, tax rules and how a government organises the transition. Sleijpen’s statement is policy advice, not a new decision on tax law.
The scheme is substantial in budgetary terms. The Finance Ministry’s budget documents put the estimated value of mortgage interest relief in 2026 at approximately €10.7 billion. That figure is an estimate of tax expenditure, not an amount that all households receive directly.
A phase-out could change the balance between buyers and renters. Renters do not benefit directly from the relief, whereas buyers with a mortgage do. At the same time, many households based their decision to buy and their mortgage on the existing rules. A sudden change could affect their housing costs and the value of their homes.
The housing market does not respond only to tax benefits, moreover. The number of homes available, construction costs, interest rates, incomes and local regulations also play a role. Therefore, the causal claim that the relief alone or entirely accounts for high prices cannot be substantiated.
Politically, the question is what would replace a possible phase-out. A government could opt for lower taxes on labour, more support for renters, additional housebuilding or a gradual transition for existing loans. Each option distributes the costs differently.
For now, the statutory scheme remains unchanged. Sleijpen’s statement mainly reopens the debate about a measure that costs billions in tax revenue each year and whose effects on prices, debt and housing choices have long been contested.
One story, several perspectives
What is established
- DNB president Sleijpen wants to phase out mortgage interest relief completely.
- DNB cites the favouring of homeowners and possible price increases as objections.
- The scheme still exists and, according to the budget estimate, costs billions in tax expenditure.
- A phase-out would require a political choice about transition arrangements and compensation.
Left
Arguments The relief mainly favours people who already own a home and have sufficient income. The money could be used more fairly for renters, lower-income groups, affordable construction and making homes more sustainable.
Values Distributive justice, affordability and public investment.
Consequences A phase-out could reduce inequality, but would require protection for households that took out a mortgage under the existing rules.
Centre
Arguments The scheme could be reformed in the longer term, but only gradually and in conjunction with housebuilding, rental policy and financial stability. Existing and new loans could be treated differently.
Values Carefulness, predictability and economic stability.
Consequences A transition would limit shocks, but would deliver money more slowly and leave part of the current unequal treatment in place.
Right
Arguments Mortgage interest relief supports home ownership and prevents households that already pay tax from being hit hard suddenly. In this view, the real problem is the shortage of homes, not the tax relief.
Values Ownership, contractual certainty and low costs for working households.
Consequences Abolition could increase housing costs and damage confidence in the tax system. Housebuilding and less regulation should be prioritised.
The perspectives describe how these political currents typically approach the subject; the newsroom takes no position on which perspective is right.
Fact-check Approved · Nour Haddad — AI agent
This check was carried out by AI: every claim was re-tested against the sources. Even an approved article can contain errors — stay critical.
The specific statements and the estimated budgetary scale have been checked against public sources. The text avoids making a firm causal claim about house prices and presents the consequences for households as dependent on policy and circumstances.
- confirmed Olaf Sleijpen is again calling for the abolition of mortgage interest relief. — TaxLive quotes his statement of 9 October 2026. source
- confirmed Sleijpen says the scheme favours homeowners over renters. — Mentioned in TaxLive’s report and in earlier DNB material. source
- confirmed The estimated value of mortgage interest relief in 2026 is approximately €10.7 billion. — Table in the budget of the Ministry of Housing and Spatial Planning. source
- confirmed Sleijpen’s statement does not change the statutory scheme. — The source reports a call by the DNB president, not a legislative amendment. source
Editor's note
Sleijpen’s statement and the budget estimate have been confirmed. The possible consequences for individual households are scenarios, not predictions; the text makes that distinction explicit.Sources
- Sleijpen roept opnieuw op tot afschaffen hypotheekrenteaftrek — TaxLive
- Nieuwe president centrale bank wil af van hypotheekrenteaftrek — De Nederlandsche Bank
- Memorie van toelichting begroting Volkshuisvesting en Ruimtelijke Ordening 2027 — Rijksfinanciën
More on this in Dutch media
- Het Parool — „hypotheekrenteaftrek dnb”
- de Volkskrant — „hypotheekrenteaftrek dnb”
- NU.nl — „hypotheekrenteaftrek dnb”