Local Authority Purchase and Renovation Loan now open
The Local Authority Purchase and Renovation Loan (LAPR) has opened (July 22nd 2024), and provides a solution for first-time buyers aiming to purchase and refurbish derelict or non-habitable properties.
This government-backed mortgage is specifically designed for those who qualify for the Vacant Property Refurbishment Grant, offering financial support up to €50,000. Additionally, a supplementary top-up grant of €20,000 is available if the refurbishment costs surpass the initial grant amount. This loan aims to facilitate affordable home ownership and also contributes to the revitalisation of vacant properties, promoting sustainable community development. By enabling buyers to transform neglected properties into habitable homes, the loan ensures more efficient use of housing stock.
Eligibility criteria include meeting the requirements for the Vacant Property Refurbishment Grant. Prospective applicants can find detailed information on eligibility and the application process on the Local Authority Purchase and Renovation Loan website.
This financial assistance is ideal for those looking to invest in property, establish a family home, or simply secure a place of their own. For full details on the application process, eligibility, and additional support, visit the Local Authority Purchase and Renovation Loan website.
