Settle Group and Paradigm Housing Group have agreed to merge to form a new organisation operating primarily across Buckinghamshire, Hertfordshire and Bedfordshire.

The new organisation, initially known as SettleParadigm, will become the largest housing association operating in the region. The target completion date for the legal merger is 27 October 2025.

Both boards say they decided to proceed with the merger after considering a detailed business case, information gathered through due diligence, and feedback from a six-week consultation with residents of both organisations.

The merger was initially announced in March. A shadow board and executive team has already been appointed to lead the new organisation.

Paradigm also announced in March that it was in discussions about buying 3,500 homes in South Buckinghamshire from social landlord L&Q and say that these negotiations are at an advanced stage. It is hoped that arrangements can be formalised over the next few weeks, and then Paradigm will support L&Q in its consultation with residents.

Paradigm has almost 17,000 homes mainly in Buckinghamshire, Bedfordshire, and Hertfordshire. Settle Group has over 10,000 homes across Hertfordshire, Bedfordshire, Buckinghamshire, and South Cambridgeshire.

More than 2,600 Settle and Paradigm residents responded to the formal consultation on the merger proposals, with around 80% of residents feeling either positive or neutral about the proposals.

Richard Moriarty, designate chair, said: “I’m excited about the potential of the new organisation and its ability to deliver for all our residents. The feedback we received through the resident consultation was immensely valuable and will help the combined organisation to lead the way when it comes to customer service and property management. The new organisation will also help us deliver more affordable homes in the communities we serve.”

Matthew Bailes, designate chief executive, said: “Everything we do is about providing high quality homes, great services to our residents, neighbourhoods we are proud of and building as many new high quality affordable homes as we can. The partnership between Settle and Paradigm, and the potential addition of 3,500 homes in our core area, means that the new organisation will be large enough to take on the most difficult challenges, whilst remaining genuinely local. We have an exciting future, building from the best in both organisations.”

Rod Cahill, interim chief executive at Settle, said: “I am delighted that our board has agreed to move forward with the merger between Settle and Paradigm. I believe it will be good for Settle and Paradigm residents, for the people working at both organisations and for all our partners. Reaching this stage has involved a considerable amount of work by colleagues at both organisations and I’d like to thank all those involved. Everyone has shown real commitment to making this work, which bodes well for the partnership to go from strength to strength.”