Speaking to the The Sunday Times yesterday, chief executive Nigel Wilson said Britain needed ‘innovative housing solutions’.
He said: “Demand far outweighs supply and if we’re going to tackle this problem we should look at what has worked in the past and see how it can be updated.
“If we can bring communities with us and agree planning we’d like to help build several new towns across the country.”
Wilson said the company is already developing towns within cities in partnership with enlightened local authorities and boroughs.
A separate newspaper report said the Legal & General was also considering entering the equity release sector.
“Regulation is clearer now, which should enable us to provide the right good-value products to help grow an undersized but vitally needed market,” Wilson told the Telegraph.
In June last year Stephen Smith, Legal & General’s housing and external affairs director, talked about the company’s plans to become a one-stop-shop for homebuyers within three years.
Smith said: “Put together land banks, put together house building, put together estate agents and mortgage brokers – it works.
“The ultimate grand plan is to have the package – from land we own, to mortgages we sell to handing over the keys. That is not a bad aspiration for a company, but it will take time.”
In spring 2013, L&G bought a £210m stake in Cala Homes as part of a £4bn investment into UK infrastructure.
