Trowers advises Legal & General Affordable Homes on housing management agreement

Law firm Trowers & Hamlins has advised Legal & General Affordable Homes on the successful conclusion of its selection process for housing management partners.

The firm advised Legal & General on the terms of its housing management agreement that was put to tender, and which seeks to form the basis of a long-term relationship between Legal & General and its management partners.

Legal & General's announcement follows an extensive, two stage tender process, launched in March 2019, which received 140 expressions of interest.

It has selected partners with regulatory ratings of V1/G1. The panel consists of: RHP, Optivo, Jigsaw, Flagship, Karbon Homes, Great Places, Chelmer Housing Partnership, Accord, Pinnacle, Stonewater, Regenda, Saxon Weald, Coastline and Raven.

Rob Beiley, the partner who led the Trowers & Hamlins team, said: "We are delighted to have worked with the team at Legal & General on this innovative arrangement, which will not only increase the supply of affordable housing in the UK at a time of a critical shortage but which will set a platform for a transformation in customer experience in the sector."

Ben Denton, Managing Director, Legal & General Affordable Homes, said: “After a rigorous tender process, focusing on the quality and customer service offering of 140 UK-wide housing associations, we have now established an experienced panel of management partners. With residents already moving into our first schemes, this represents another milestone as we continue to pioneer the Institutional Registered Provider model.

“There is an urgent need to keep innovating in this sector and to provide quality, stable homes for the 1.1 million households on waiting lists in England.”

Trowers previously advised Legal & General on the operational set up of their Affordable Homes division and the registration of Legal & General Affordable Homes with the Regulator of Social Housing.