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Housing Today
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L&G Affordable Homes falls to £7.5m loss
Insurance giant subsidiary reports 2022 loss after revaluation of homes in wake of mini budget turmoil
Legal & General’s growing affordable housing subsidiary fell to a £7.5m loss in 2022 after it had to revalue its homes portfolio in the wake of the mini-budget crisis.
The firm, which said it completed its 3,000th home in the year, recorded the pre-tax loss for the 2022 calendar year on revenue of £19m, up more than 50% from 2021.
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