Legal & General RI to invest £2bn in affordable homes

10,000 new homes in the UK

Martin Richmond
clock • 2 min read

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...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Beyond avocado analogies: Examining the UK equity market

Beyond avocado analogies: Examining the UK equity market

'If the UK stock market were a fruit, it would undoubtedly be an avocado'

James Sullivan
clock 19 June 2024 • 5 min read
Challenging markets can lead to investment opportunities

Challenging markets can lead to investment opportunities

Taking a longer-term view on falling asset prices

Natalie Tysoe
clock 18 June 2024 • 4 min read
Advisers say 'cash returns don't cut it' as equity exposure soars

Advisers say 'cash returns don't cut it' as equity exposure soars

Three quarters of advisers have helped clients increase equities exposure

Hope Coumbe
clock 14 June 2024 • 1 min read