A NEW loan scheme to help get more people on the property ladder has been officially launched in Limerick.
The Local Authority Purchase and Renovation Loan was approved by government at the start of June, marking an expansion of the Local Authority Home Loan.
It 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 popular in Limerick, with 527 applications submitted since the programme began, 398 of these being approved.
Housing Minister Darragh O’Brien said the new grant will further help remove properties from vacancy and dereliction.
“Under Housing for All, we have placed a special emphasis on tackling vacancy and dereliction all across our country,” the Minister said. “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.”
Minister of State Malcolm Noonan said that local authorities nationwide play a key role in helping to bring vacant and derelict houses back into use.
“Our local authorities are working side by side with government in getting to grips with our housing challenges. This new loan, which will be available from all local authorities nationwide, will make it easier for people to purchase and renovate vacant and derelict properties and breathe new life into them,” he said.
