Legal & General and Bromford enter €111m partnership to deliver affordable homes

LGIM Real Assets has provided £100 million (€111 million/$126 million) in deferred long-term financing to Bromford Housing Group, the largest provider of affordable homes across central and southwest England.

The funding will be drawn in 12 months’ time and will support Bromford’s strategic development goal to deliver 12,000 new affordable homes by 2028. The delivery of these homes will serve the communities in which Bromford operates as well as playing an important role in getting the U.K. economy back on track.

The United Kingdom continues to suffer a shortage of affordable housing, with 1.3 million households on local authority waiting lists. As one of the United Kingdom’s leading housing associations, and a strategic partner of Homes England, Bromford has a key role to play in providing social and affordable housing to those whose needs are not met by the private markets in central and southwest England. Bromford recently announced the successful delivery