L&G and Croydon Council ink £45m deal to ease housing crisis

Legal & General has partnered with Croydon Council to provide 167 homes for families on the housing waiting list. With more than 1.3m people on social housing waiting lists in the UK, the move exemplifies how councils can ease the burden on the public purse by working alongside an investor like L&G. The British insurance and pensions giant has leased the properties, which are scattered across Croydon and neighbouring boroughs, to Croydon Council on a 40-year term, after which they will belong to the council. The council will pay L&G a rent that is less than half of the Local