Fairhive Homes and Buckinghamshire Housing Association to join forces
Fairhive Homes and Buckinghamshire Housing Association to join forces
Two Buckinghamshire based affordable housing providers announce plans to join together
JUNE 16 2022. FOR IMMEDIATE ISSUE
Fairhive Homes Limited and Buckinghamshire Housing Association Limited (BHA) are looking to join forces to become a single combined housing association delivering homes and services for those in housing need across Buckinghamshire and the surrounding areas.
Both organisations have strong performance including high levels of customer satisfaction, and the union will create the opportunity to enhance their combined services, create value for money benefits and build more affordable homes in an area where they are desperately needed.
Fairhive, which until recently was known as Vale of Aylesbury Housing Trust, owns 8,500 homes and delivers services to over 20,000 of its residents in Buckinghamshire and beyond. Stokenchurch-based BHA has a housing stock of 500 homes and provides services to 1,000 residents in the same geographical area.
In May, the Boards of both Fairhive and BHA agreed in principle for BHA to join with Fairhive through a process known as a Transfer of Engagements. During the next few months the two organisations will be working together with the aim of achieving the formal transfer in January 2023.
Matthew Applegate, Chief Executive of Fairhive Homes, said: “Our two organisations operate in the same geographical area and we have similar values, culture and strategic objectives so we are thrilled at the opportunity to combine our services for the benefit of all our residents.”
Phil Green, Chief Executive of BHA added: “We are both recognised locally as successful housing associations in terms of our overall performance and financial strength; coming together will deliver greater operational resilience for us, as well as generating significant cost savings which will be used to enhance homes and services for our current tenants, as well as supporting the development of more new homes.”
The transfer is subject to the outcome of consultation with BHA residents, the consent of shareholders and the formal approval of both Boards. In the meantime resident services and all other activities will continue as normal in both organisations.
More information will be available over the coming months as the transfer of engagements progresses.
ENDS
Note to editors:
For more information or to arrange an interview, please contact pressoffice@fairhive.co.uk or call Rodney Kumar, External Partnerships Manager at Fairhive Homes Ltd on 07929 065296.
Housing Associations are assessed and rated by the Regulator of Social Housing to ensure that they effectively manage their affairs and have financial capacity to deal with a wide range of adverse financial scenarios. Fairhive has the top rated assessment from the Regulator of G1 for governance and V1 for financial viability. BHA, due to its size, is not subject to the same regulatory rating system.