Later living specialist Anchor returned to surplus in 2021/22 and said it is on track to exceed its increased target of building 5,700 homes over 10 years.

The housing association, which manages 48,000 homes and 125 residential care homes, reported a surplus of £24.4m in the year. This compares to a £12m loss last year, which was affected by £40m in break costs due to refinancing.