Laois welcome for council's new home and renovation loan scheme
New scheme will offer loans to buy and then renovate homes
A Laois TD has welcomed the introduction of a new Government loan scheme to give money to buy and then renovate a home.
The Local Authority Purchase and Renovation Loan was approved by Government at the beginning of June and is now available for applications through Laois County Council.
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.
Laois/Offaly Fine Gael TD Charlie Flanagan says it gives a new pathway to people trying to afford their first home.
“The Vacant Property Refurbishment Grant has been incredibly popular to date with over 8,000 applications received under the scheme so far and more than 5,000 approved.
“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.
“The latest figures show that 162 applications have been received under the scheme so far in Co. Laois with 117[1] approved. 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 in Laois a key objective of Housing for All, while also providing another funding pathway for individuals to realise their goal of homeownership,” he said.