RetireJapan

Seems the mortgage tax benefit was due to end this year and it seems as though it will be reduced instead: they are proposing to reduce the mortgage tax benefit to 0.7% of the loan with a cap of 30m (max eligible income 20m). Apparently it will be finalised on Friday this week?

https://www.fnn.jp/articles/-/280911

Not sure if they will grandfather current loans in. I'm guessing they would.

From https://www.retirejapan.com/blog/mortgage-tax-benefits/

The new system will start on January 1st, and people with existing mortgages (or who move into their new residence before December 31st) will be grandfathered into the current system.

Does it apply to the portion of the principal that was already used, or to the entirety of it if the bank approved it this year? The bank already paid for the land but will only pay for the house next year, so I'm curious if we'll be 1%, 0.7% or a mix of both…

Someone mentioned moving in as a condition, so I guess you would get the system in place at that time.

According to this yahoo finace article

契約時期：新築注文住宅＝2021年9月30日、分譲住宅・既存住宅・増改築＝2021年11月30日まで
入居時期：2022年12月31日まで

To get the current benefits, you must have signed your contract before 2021-9-30 for a new home or 2021-11-30 for a rebuild, and you must move in before the end of 2022-12-31.