Housing associations in merger talks

Two of Britain’s leading housing associations – Genesis Housing Group and Notting Hill housing association – are holding urgent merger talks. A deal expected in three to four weeks would create the UK’s biggest housing association with about 58,000 properties on its books. Cash-strapped Genesis accepted an emergency loan of £100 million from London Quadrant Group housing association several months ago, and analysts believe that the latest deal could be the first of many mergers as housing associations struggle to get credit, and property values plunge.