Legal & General Affordable Homes (“Legal & General”) announces that it has partnered with 14 established housing associations and providers to form a panel which will lead its housing operations across the UK.
20 Nov 2019
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Creating a nationwide network of management partners, the panel will bring local expertise and the established infrastructure to support Legal & General in delivering its pipeline of 3,500 affordable homes.
Legal & General is leading the evolution of the affordable housing sector, as it commits to raising service standards and deploying long-term institutional capital to increase provision in a sector which continues to suffer from chronic undersupply.
Today’s announcement follows an extensive, two stage tender process, launched in March 2019, which received 140 expressions of interest. Legal & General has selected partners with regulatory ratings of V1/G1, who have demonstrated a commitment to deliver exceptional customer services to residents. The selected panel consist of; RHP, Optivo, Jigsaw, Flagship, Karbon Homes, Great Places, Chelmer Housing Partnership, Accord, Pinnacle, Stonewater, Regenda, Saxon Weald, Coastline and Raven.
Across its growing portfolio, Legal & General is delivering a mix of social, affordable rental and shared ownership homes, within Section 106 agreements and grant supported homes. As experienced affordable housing providers, Legal & General’s selected panel manages in excess of 300,000 affordable homes. The coverage of its panel means Legal & General has the capacity to allocate two providers to each UK local authority, supporting its ambition to deliver 3,000 affordable homes each year.
Ben Denton, Managing Director, Legal & General Affordable Homes: "With residents already moving into our first schemes, this represents another milestone as we continue to pioneer the Institutional Registered Provider model. There is an urgent need to keep innovating in this sector and to provide quality, stable homes for the 1.1 million households on waiting lists in England."