Dáil Éireann Debate, Thursday - 19 September 2024
109. Deputy Jackie Cahill asked the Minister for Housing, Local Government and Heritage for an update on the local authority purchase and renovation loan; and if he will make a statement on the matter. [36931/24]
Amharc ar fhreagraOn 5 June I received Government approval for a Local Authority Purchase and Renovation Loan (LAPR), which is an expansion of local mortgage lending to support the purchase and/or renovation of homes which are eligible for the existing Vacant Property Refurbishment Grant.The introduction of the Local Authority Purchase and Renovation Loan significantly expands the number of homes eligible under current local authority mortgage lending rules. Eligibility for the loan is subject to creditworthy applicants meeting the existing local authority mortgage eligibility criteria and the project meeting the scheme lending criteria. 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 Housing Purchase and Renovation Loans Regulations 2024 (S.I. 353 of 2024) were signed on 17 July 2024 and came into effect on 22 July 2024.The loan is open for applications with details available via the website on www.purchaseandrenovationloan.ie.
