More than £2bn of pension funds will be invested by Legal & General Retirement Institutional (LGRI) into the construction of affordable homes over the next five years.
LGRI today (8 April) announced that it will make the investment through its subsidiary, Legal & General Affordable Homes (LGAH). The investment is expected to support the construction of over 10,000 new affordable homes in a bid to tackle the shortage of affordable housing across the UK, with 1.2 million households currently on the social housing waiting lists in England alone. In 2020/21, only around 45,000 affordable homes were built. This fell significantly short of the expected demand, as according to estimates from The National Housing Federation and the homelessness charity Cris...
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