L&G Response: Government funding for affordable housing

Ben Denton, Managing Director of Legal & General Affordable Homes said:

“‘We are pleased that the Government has announced increased funding towards affordable housing today. This will help to deliver more homes at levels that residents can afford in areas which need it most. This additional funding will be allocated over a much longer period – to 2028/9 – allowing developers and housing associations to plan with much more certainty. While good news, there is still more work to be done. Over the past decade, only 3,000 affordable homes have been delivered each year, highlighting the need to smooth the way for more institutional money to enter the sector. Having recently launched our affordable homes business, we are looking forward to proactively working with government and local authorities to bring forward institutional funding to deliver the additional affordable housing that the nation so desperately needs.”