Legal & General’s modular housing business has posted a loss for the fifth consecutive year, taking its total losses to £137m since 2016.

L&G Modular Homes, set up by the insurance giant to deliver 3,500-homes a year, made a pre-tax loss of £30.2m in the 2020 calendar year, according to its accounts published yesterday, The total loss, once income tax credit has been taken into account, is £25.4m