Last month, Legal and General Affordable Homes announced that they will commit to investing £750 million in order to increase their number of new affordable housing projects throughout the UK – expanding their development schedule to almost 3,500 homes across 41 schemes.
Legal and General Affordable Homes have expanded significantly during the last year in an attempt to become the UK’s leading IRP (Institutional Registered Provider) or affordable properties and their business has grown from just 5 to 55 employees during this time.
Since the announcement, the government have made a pretty big decision of their own – by calling a general election. Legal & General Affordable Homes suggest that their move comes at a time when the UK continues to endure a burgeoning housing crisis, with 1.1 million households on waiting lists for an affordable home, and as a key issue, housing has now become a bit of a hot potato on all the parties’ election manifestos.
Before took place – the firm were already firmly committed to leading a revolution in the affordable housing sector. And it is suggested that the current political climate will only stimulate their plans – rather than throwing a spanner in the works. Their main goal is to raise the standards of service within the affordable housing sector, with the use of long term institutional capital to increase provision, as Ben Denton, managing director of Legal & General Affordable Homes explains:
“There is an urgent need to innovate new ways to provide stable homes for the millions of households on waiting lists. Legal & General remains committed to deploying institutional capital at scale into this sector, to deliver the volumes of social housing which society desperately needs. We have made a great start in executing our development programme, which now stands at nearly 3,500 homes all across the country.”
This sounds like very positive news for the affordable homes sector and the property market in general. If you are moving into your first home you might be surprised at how affordable our removal services are too. For smaller moves, we have a man and van service available by the hour or by the da – meaning you get really good value for money and it’s one less moving cost for you to to worry about. If you’re trying to calculate the cost of your next home move then you might find our previous series of blog posts really useful too. Ready to get a quote? Give us a call on 01308 423939 for a friendly no-obligation chat.