Local Authority Purchase and Renovation Loan goes live in Westmeath and Roscommon

The Local Authority Purchase and Renovation Loan is now open for applications.

The Local Authority Purchase and Renovation Loan was approved by Government at the beginning of June. The loan, which is an expansion of the Local Authority Home Loan, will support both the purchase and renovation of homes which are eligible under the existing Vacant Property Refurbishment Grant.

The Vacant Property Refurbishment Grant has been incredibly popular to date in both Westmeath and Roscommon with 184 applications received in Westmeath under the scheme and 313 in Roscommon so far and 122 and 158 approved respectively. Now, with the Local Authority Purchase and Renovation Loan, a first time buyer who wishes to turn a vacant or derelict property into a new home can receive a loan to fund both purchase and renovation works.

This reinforces the Government’s commitment to bring homes back into use, a key objective of Housing for All, while also providing another funding pathway for individuals to realise their goal of homeownership.

The Minister for Housing, Local Government and Heritage, Darragh O’Brien, said, “Under Housing for All we have placed a special emphasis on tackling vacancy and dereliction all across our country. This new purchase and renovation loan is simply another tool in our armoury and offers another option for home buyers. We will continue doing everything we can to rejuvenate and regenerate our villages, towns and cities, making them even better places for people to call home,” he concluded.

Apply for the loan at https://purchaseandrenovationloan.ie/