Legal & General (L&G) Affordable Homes has reported a £24.2m profit loss for 2025 despite an increase in turnover following a portfolio revaluation.
Shaun Holdcroft, Legal & General Affordable Homes
In a collection of filings to Companies House, L&G Affordable Homes, which currently operates through seven separately registered providers, revealed that the revaluation accounted for a total loss of £50.1m, bringing the group’s profits down from £25.9m to the £24.2m loss.
L&G Affordable Homes said the valuation loss represented around 5% of total investment property value and was reflective of general market trends.
However, through its seven registered providers, L&G Affordable Homes also reported full-year revenue of £204m, up 33.8% compared with the £152.4m recorded the year before.
The division’s portfolio also increased to around 6,700 units last year, up from the previous year’s 5,682 units. The portfolio comprises a mixture of rented properties (53%) and shared-ownership homes (47%).
Total investment property increased from £945m (31 December 2024) to £1,024m (31 December 2025).
L&G now expects the portfolio to grow to 7,700 by the end of this year, of which 60% will be rented.
Shaun Holdcroft, head of affordable homes at L&G, said: “Our mission is to provide high-quality affordable homes and support our customers to lead fulfilling lives – and in the past year, we’ve continued to deliver on that commitment, growing the number of homes we build and manage and making significant improvements to the services we provide to our customers.
“By attracting institutional capital into the sector and deploying it at pace, we are accelerating on all fronts – delivering more affordable housing faster that is well managed and supporting growth through new and innovative partnerships.
“Looking ahead, our ambition remains clear: build on this momentum and support other providers, so that together we can build the affordable homes the country needs, invest in existing homes and create lasting social impact.”
The division’s seven registered providers include:
- Legal & General Affordable Homes
- Legal & General Affordable Homes (Development 3)
- Legal & General Affordable Homes (Capital)
- Legal & General Affordable Homes (AR)
- Legal & General Affordable Homes (Investment 1)
- Legal & General Affordable Homes (Investment 2)
- Legal & General Affordable Homes (Investment 3)
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