Local Authority Purchase and Renovation Loan (LAPR)

In June 2024, the Government approved the Local Authority Purchase and Renovation Loan (LAPR), a significant expansion of the existing Local Authority Home Loan scheme. This initiative supports homeownership and aligns with the broader objective of bringing homes back into use under the Housing for All policy. 

The extension of the Local Authority Purchase and Renovation Loan (LAPR), aims to support both the purchase and renovation of vacant or derelict homes eligible for the Vacant Property Refurbishment Grant. This Government-backed mortgage is available to first-time buyers and Fresh Start applicants, enabling them to secure loans for both the purchase and renovation of non-habitable or vacant properties. Unlike the previous local authority mortgage lending rules, which only applied to habitable homes and covered purchase costs, this initiative expands eligibility to include derelict properties and covers both purchase and refurbishment costs. You must qualify for the Vacant Property Refurbishment Grant to get this loan. 

Eligibility for the LAPR will follow Longford County Council mortgage lending criteria, ensuring a streamlined process for applicants. This loan is particularly beneficial for those who have viable renovation projects but face challenges in securing adequate funding from commercial lenders.         

There are two primary beneficiary groups:

  • Individuals with a viable project who lack sufficient income to obtain commercial financing but can demonstrate repayment capacity for a local authority loan. 
  • Individuals whose projects do not meet bank lending criteria but are viable under the LAPR's terms and have sufficient income to support repayment.

Applicants who are applying for the Vacant Property Grant Scheme in relation to a property which is intended to become their principal private residence must indicate on the application form if they have applied or plan to apply for the Local Authority Purchase and Renovation Loan (LAPR) or the Renovation-Only LAPR. 

As proof of ownership, when applying for the Local Authority Purchase and Renovation Loan (LAPR), evidence that the application has successfully passed Stage 1 assessment will be accepted as proof of active negotiations to purchase the property. This documentation is required to support the grant application. 

To apply, you must first qualify for the Vacant Property Refurbishment Grant and be unable to get funding from a bank or commercial lenders. 

The LAPR loan has 2 parts:

  • A variable rate bridging loan for the amount you've been approved for under the Vacant Property Refurbishment Grant. You pay the bridging loan back as soon as you get the grant. 
  • A fixed-rate mortgage loan.

The income limits for borrowers (€70,000 single, €85,000 joint) and the property's post-renovation value must not exceed the limit of €275,000 in County Longford. 

Find out more about the Local Authority Purchase and Renovation Loan (LAPR).

Full details of the Local Authority Home Loan, including eligibility criteria, can be found at Local Authority Home Loan or contact Longford County Council Loans Department at (043) 334-3453 or (043) 334-3358 or email loans@longordcoco.ie.