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L&G to help provide 250 homes for Croydon families

Legal & General has committed £21.6m to its partnership with Croydon Council to provide homes for families on the waiting list in the borough.

The partnership will bring 250 houses and apartments back into use for families currently residing in emergency accommodation.

The announcement follows the establishment of the partnership last year, bringing Legal & General’s total investment to £66.2m.

Councillor Alison Butler, Croydon Council’s deputy leader and cabinet member for Homes and Gateway Services, said: “There remains a strong demand for good-quality affordable homes in Croydon and this innovative scheme offers us better value for money than the more traditional loans available to councils.

“With this additional investment, we are now saving around £24.5m over the loan period, meaning we can assist even more people in the long term and provide the homes that local families need.”