We partner with L&G to deliver new affordable Essex homes | News

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We partner with L&G to deliver new affordable Essex homes

CHP and LGAH affordable homes

We are delighted to announce that we are one of 14 organisations chosen nationwide to manage properties built by financial services firm Legal & General under their new affordable homes initiative.

The new venture is expected to deliver 3,500 homes across the country by 2021 with a further 3,000 year on year thereafter. We will initially take management of 30 new homes for shared ownership in January and February 2020 with more expected in the summer.

The new partnership represents a shared vision that an affordable home is the cornerstone of a healthy and good quality of life.

Our Chief Executive Mary Gibbons said: “It takes a meeting of minds to solve the housing crisis. Less than half the affordable homes the country needs are being delivered so this bold new investment by Legal & General is great news. There’s a huge regional shortfall in Essex and, as a leading local housing association, CHP is committed to helping bridge that gap. We’re proud of our track record and excited to be combining our expertise in this new partnership. Together we’ll increase housing supply and do everything we can to provide the highest level of service to our customers.”

Today’s announcement follows an extensive, two stage tender process that began in March 2019. Legal & General has only selected partners with the highest Regulator of Social Housing ratings of V1/G1 and who have demonstrated a commitment to deliver exceptional customer services.

Ben Denton, Managing Director, Legal & General Affordable Homes, says: “After a rigorous tender process, focusing on the quality and customer service offering of 140 UK-wide housing associations, we have now established an experienced panel of management partners. 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.”

Comments

  1. pauline selby says:

    Is this going to actually be AFFORDABLE to young families or are they going to be more of what is on offer now?

    Added on 20 Nov 2019 at 05:14 PM

  2. CHP says:

    The Legal & General Affordable Homes will be available at various sites through a variety of options including shared ownership, social and affordable rent, similar to the homes that we provide in terms of the cost to buy or rent.
    The criteria for affordable homes is set by the Government, with affordable rents being set at, or below, 80% of private market rent in the area; and shared ownership schemes, which offer the opportunity to buy a share of a new home and gradually staircase towards full ownership.

    Added on 28 Nov 2019 at 11:08 AM

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