MTVH and Legal & General Affordable Homes shared ownership JV will help nearly two thousand families get a foot on the housing ladder
Housing association MTVH via its shared ownership brand So Resi, and Legal & General Affordable Homes (LGAH) have joined forces to create a 50:50 joint venture targeting the delivery of over 2,500 shared ownership and affordable rent homes over the next seven years. Of the 2,500 homes, around 2,000 will be shared ownership with the remainder for affordable rent.
The first homes built under the Joint Venture are expected to be completed by 2025, with construction set to begin on these homes within the next twelve months. All homes will be built to meet or exceed EPC B energy efficiency standards.
The Joint Venture expects to help many more households in London and the South-East to become homeowners.
Around 2,000 of the homes will be sold through shared ownership via MTVH’s SO Resi brand, boosting access to affordable homeownership. This is especially timely, with the current interest rate environment making shared ownership a relatively more attractive housing product. SO Resi is the award-winning shared ownership brand of MTVH – one of the country’s largest housing associations.
The remaining homes will be available for affordable rent. MTVH through SO Resi will bring its experience in marketing and managing shared-ownership homes - MTVH currently, manages or administers around 57,000 homes across London, the South East, East Midlands and East of England.
LGAH was launched in 2018 to increase the supply of a