About Legal & General Affordable Homes

Providing the best in Shared Ownership across England

About Us

We seek to tackle the severe shortage of affordable housing in the UK through leading development and management platforms.

Focused on supporting the UK’s demographic and affordable living needs, and consistent with Legal & General’s housing growth strategy, Legal & General Affordable Homes will lead the evolution of the affordable housing sector with an aim to become the leading private affordable housing provider in the UK. It forms a subsidiary of Legal & General Capital, which invests capital into sectors where there has been a shortage of investment and innovation, focusing on growth opportunities and scale ups.

Working with local authorities, housing associations and developers across the country, we provide the institutional capital required to build the affordable homes the UK needs.

Our Purpose

We provide private patient capital to the UK affordable housing sector with the purpose of overcoming the critical deficit in affordable housing for families and households without a suitable home in the open market. We invest to develop sustainable, vibrant and healthy communities.

The need for good quality affordable housing provision in the UK is fundamental to the creation of a flourishing society. We seek to increase the supply of affordable housing by investing long-term institutional capital into the affordable housing sector to build more affordable flats and houses and provide safe and comfortable homes for those who need them most. 

Over 1.3 million householders1 are on local authority housing waiting lists across the UK. In 2017 only c. 30,000 new affordable homes entered the housing market.

Through collaboration with developers, housing associations and public sector bodies across the country, we are funding new affordable homes bringing volume institutional capital to the affordable housing sector. Our development and management platform provides the sector with increased development output and assurance of the highest quality experience for our customers.

What Is Shared Ownership?

A simple explanation

Shared Ownership is a type of affordable home ownership when a purchaser takes out a mortgage on a share of a property and pays rent to a landlord on the remaining share.

For example, someone might buy a 50% share in a property, and pay rent to the landlord on the remaining 50%. Purchasers then have the opportunity to ‘staircase’ up their share of the property, gradually increasing the proportion of their home that they own outright and therefore paying less rent on the remaining portion, until they own 100% of their home.