Waterford City & County Council has announced the opening of the Local Authority Purchase and Renovation Loan (LAPR), providing first-time buyers with a solution to purchase and renovate derelict or non-habitable properties.

This government-backed mortgage is tailored for those eligible for the Vacant Property Refurbishment Grant, providing financial support up to €50,000. An additional top-up grant of €20,000 is available if refurbishment costs exceed the initial grant. The loan aims to make home ownership more affordable, support the revitalisation of vacant properties and promote sustainable community development by converting neglected properties into liveable homes.

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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 perfect for those looking to invest in property, establish a family home, or secure their own place.