The long-term, 10-year rent settlement announced in last summer’s spending review was “incredibly important” in giving Legal & General Affordable Homes (LGAH) the certainty needed for its recently announced partnership with 117,000-home registered provider Hyde.

The pair announced the 50/50 joint venture at the end of last month, launching with a seed portfolio of more than 1,000 social rented and shared ownership homes. They say the funding model will enable them to invest on a greater scale more quickly.

But how exactly will it work? And what is the likely significance for the social housing sector?

Housing Today joins Catherine Raynsford, managing director for stock acquisitions at LGAH, to find out more about the deal.