Insurance giant L&G’s new suburban build-to-rent business has secured a £150m credit facility from a consortium of lenders designed to back its 1,000-home development pipeline.

The L&G Capital subsidiary, which is called L&G Suburban Build to Rent’s (LGSBTR) and was set up at the end of 2020, said it had signed a five-year loan deal with Barclays, HSBC and Natwest in order to help it address the “significant demand for quality rental housing across the UK”.

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