Legal & General Modular Homes (LGMH) has struck a deal with affordable housing provider Vivid to build 1,000 new affordable modular homes.
The five-year partnership will deliver up to 300 net-zero-carbon modular homes in the South of England each year. It will build the first homes in 2023.
The homes will feature a combination of thermally efficient materials, air source heat pumps, and solar panels. LGMH claimed its homes are 60% more efficient to run for the homeowner than a Building Regulation-compliant new-build home. Meanwhile apartments are up to 30% cheaper to heat and run than the average apartment.
The annual running costs of an LGMH net-zero regulated home are estimated at £668 a year (using the capped October 2022 rates from Ofgem). A typical home would cost £2,456 to run a year.
Rosie Toogood, CEO of Legal & General Modular Homes, said: “We are delighted to be working with Vivid. Our partnership brings together two like-minded organisations with shared values and objectives. They will deliver much-needed high-quality affordable homes that will make customers feel safe, comfortable, and enjoy where they live.”
