A construction deposit (bouwdepot) is the part of your mortgage that is not paid out straight away but kept aside for a renovation or for building a new home. You pay the contractor's and suppliers' invoices from it by submitting them to the lender. You pay interest on the whole loan, and you usually receive interest on the balance still in the deposit.
What a construction deposit is for
There are two kinds. A renovation deposit (verbouwingsdepot) goes with an existing home: you buy a house and want to work on it right away, or you increase the mortgage on the home you already live in. A new-build deposit (nieuwbouwdepot) goes with a home that is still being built. From it you pay the instalments the builder charges as construction progresses. Different tax rules apply to the two kinds; you will find them further down.
How claims work
You borrow the renovation amount up front, but that part is not paid out at the notary. It stays with the lender in a separate account. When you receive an invoice, you send it to the lender with a claim form. The lender then pays the contractor, or you if you have already paid the bill yourself. Every lender has its own forms and processing times, and some ask for proof that the work has actually been done for larger amounts.
With an NHG mortgage your own money goes first. NHG's Voorwaarden en normen 2026 say that the borrowed money goes into a construction deposit and must be spent on the home, and that costs are paid from the deposit only after your own funds for the renovation have been used.
Keep every invoice and proof of payment. The Belastingdienst (Dutch Tax Administration) wants you to be able to show that you used the loan for the renovation.
How much you can include
Under the Dutch mortgage lending rules (Tijdelijke regeling hypothecair krediet), your mortgage may not exceed 100 percent of the home's value in 2026. For a renovation the lender therefore looks at the value after the work. That requires a valuation report showing both the current value and the value after renovation; NHG requires a physical valuation in that case.
For energy-saving measures such as insulation, HR++ glass or a heat pump, the mortgage may go up to 106 percent of the home's value. With NHG the limit in 2026 is € 470,000, or € 498,200 if you spend the extra amount entirely on energy-saving measures. How much extra you can borrow for energy saving is explained in Borrowing extra for energy-saving measures: energy label and energy-saving budget in 2026.
Interest and tax: the 2-year rule
You can deduct the interest you pay on the part of the loan held in the deposit for at most 2 years, as long as you use the deposit for the renovation or the new build. The Belastingdienst calls this the two-year rule (tweejaarsregeling). The period starts when the deposit is opened.
With a renovation deposit, the interest you receive from the deposit does not count during the first 6 months: you deduct the full interest you pay. In the 18 months after that, the interest you receive is subtracted from the interest you pay, and only the difference is deductible. Those six months are an approval by the Belastingdienst and do not apply to new builds. With a new-build deposit you offset the interest received from the start.
If money is still in the deposit after 2 years, the interest on that part is no longer deductible. The balance then counts as an asset in box 3 and the matching part of the loan as a debt in box 3.
The usual conditions for interest relief apply to the renovation: it is your own home, the loan is repaid at least on an annuity basis within 30 years, and the money goes into things that are fixed to the home. The Belastingdienst mentions a new bathroom or kitchen, solar panels on the roof and maintenance painting, among others. If you previously sold a home with surplus value, the bijleenregeling may limit your deduction; read more in Calculating your home equity and using it for your next home.
An example from Almere
This example is indicative and based on the 2026 rules. The amounts are assumptions.
A couple buys a 1980s terraced house in Almere Buiten for € 360,000. They want to replace the kitchen and insulate the roof, and the quotes add up to € 35,000. The valuer puts the value after renovation at € 395,000. If their income allows it, the mortgage can come to € 395,000, of which € 35,000 goes into a renovation deposit. They pay the purchase costs from their own money.
The kitchen supplier sends the final invoice after three months and the roof insulation follows after five. Because both fall within the first 6 months, the interest received on the deposit plays no role in their tax return. Had the roof insulation been done only after a year, the deposit interest would have been offset against the interest paid from month seven.
The Warmtefonds also uses a deposit
If you choose the Energiebespaarlening from the Nationaal Warmtefonds, that money also goes into a construction deposit. The deposit is available for 9 months and can exist for at most 24 months with an extension. You claim through Mijn Warmtefonds with proof of payment from your bank account; bills paid in cash are not accepted. You can use whatever is left to repay the loan.
How we help
For a renovation we put an increase of your mortgage, a construction deposit when buying and a Warmtefonds loan side by side. If you choose a construction deposit, we arrange it and explain how to submit claims and when you can withdraw money. Read more about our approach on the page renovating and making your home more sustainable and on mortgage advisor in Almere.
Planning a renovation, or buying a home you want to work on? Book a free introductory meeting at our office on Schoutstraat in Almere, in English or Dutch, and we will work out together what is possible in your situation.