Legal & General Affordable Homes (LGAH)
We’re one of 14 organisations chosen nationwide to manage properties built by financial services provider Legal & General under their affordable homes initiative.
Legal & General Affordable Homes (LGAH) aims to deliver 3,000 affordable homes annually by 2023 to help meet the chronic shortage of affordable housing.
Our partnership represents a shared vision that a well-built and well-maintained affordable home is the cornerstone of a good quality of life.
We had our first handover of new homes from LGAH in January 2020, with 30 properties at the Renovo development in Thurrock. Since then, we’ve taken management of 141 other homes across Chelmsford, Thurrock, Southminster, Harlow, Newmarket and Bury St Edmunds. In addition to these, in 2021 CHP sold 48 homes to LGAH which we now also manage for them.
All 219 homes we manage on behalf of LGAH have been for shared ownership or affordable rent and have contributed to our goal of helping to meet local housing need.
We’re expecting at least another 119 properties over the next 12 months. These include 18 flats at a brand new development in Enfield for shared ownership. Plus a new development at Silver End in Witham consisting of 35 flats and two-and three-bedroom homes for affordable rent and shared ownership.
M&G UK Shared Ownership Limited
M&G UK Shared Ownership Limited is a registered for-profit provider and is part of the FTSE 100 financial services company, M&G plc. M&G UK Shared Ownership Limited is dedicated to investing in shared ownership properties by working with housing associations like us. Importantly for us M&G also shares a similar purpose and values to our own and are controlled by the Regulator of Social Housing. This means M&G operates within the same guidelines for social housing providers as we do, protecting customers' long-term interests.
We have recently sold 168 shared ownership properties to M&G UK Shared Ownership Limited, but we will continue to manage these properties on their behalf. This partnership will give us the opportunity to build more great new homes across our operational area, whilst still ensuring a high quality of service for our current customers.
We see this as a long-term relationship and will continue to look for new ways to collaborate with M&G for the benefit of our customers and their communities.
Chelmsford City Council
We also manage a number of homes on behalf of Chelmsford City Council. As part of its programme to increase temporary housing for homeless families, we’re taking on management of 20 more properties to help provide families with a roof over their heads.