Following agreement by both boards, Bromford and Flagship announce their intention to merge

Following agreement by both boards, Bromford and Flagship have today announced their intention to merge.

Coming together they will build on the strength and complementary capabilities of both organisations to create a new organisation – Bromford Flagship.

Merging these two strong organisations will release significant additional financial capacity over and above what either party could achieve alone.

This increased capacity will allow Bromford Flagship to deliver 2,000 homes each year for the next 30 years, with an aim of providing 50% of these homes at social rent.

Bromford Flagship will maintain the commitment that both organisations currently have to local accountability, they will maintain their locally focused teams and delivery model, and increase its effectiveness by devolving more decision making to local teams to ensure that customer services are delivered in line with customer wishes. These teams will be supported by the creation of a leading digital offering for customers and colleagues.

Bromford Flagship’s increased capacity will provide the opportunity to introduce new and innovative investment with the creation of a new Place Standard – looking beyond the fabric of each home to consider what is required to turn a ‘street’ into a ‘place’ where people want to live, and where customers and communities can thrive.

Finally, Bromford Flagship will develop two new exciting initiatives:

• The establishment of a learning Academy to offer training opportunities to both colleagues and customers; and
• A new Research and Development Team that will support the creation of the new, innovative organisation that will have customers at its forefront.

Peter Hawes, Chair of Flagship, and Steve Dando, Chair of Bromford, commented:

“The need for affordable homes, the quality of service that we provide to customers and an absolute focus on place has never been more important.

“The need for strong housing associations that can deliver at scale has also never been greater. As forward thinking organisations we have robustly reviewed the benefits from coming together and strongly believe that we can do more for our existing and future customers.

“Our aim is to secure significantly increased investment, to improve existing services and deliver more benefits for current and future customers. We are excited about the huge potential this opportunity offers and the difference it could make to people’s lives and local communities”.

Bromford and Flagship will spend the upcoming months discussing and consulting the proposals with customers and colleagues.

For Bromford customers there will be no change to your tenancy agreement or your rent.

FAQs

Question	Answer
What does this mean?	Both organisations are discussing how to create the best combined organisation and what that might look like. So far there is agreement that there is a lot of potential benefit and that we could achieve more by joining forces.
Why?	Both organisations are focused on how they can grow and deliver more to you. The housing sector has many challenges ahead such as achieving net-zero carbon, meeting growing demand for affordable homes and improving health and safety. These will be stretching for the sector and a merger will help us to achieve more and be more robust. By merging we can bring together our resources and become more efficient.
Are you doing this because one or more of the organisations involved are struggling and needs support?	No – both organisations are healthy and therefore do not need a merger for financial or operational reasons.
Will there be costs associated with this merger?	Customers will not incur any additional costs as a result of the merger.
What do Bromford and Flagship get out of this if it goes ahead?	Any merger would be designed to help us achieve more together – especially for all our customers. That means, for example, making it possible for us to build more homes, invest more in existing homes, provide better services, get better value for money, and work more efficiently.
When is this happening?	We are currently in talks, and this will last some time as there is a lot to work out, so if it goes ahead, the merger is not likely to take place until spring 2025.
Will my tenancy change?	No, everything that is currently in place for you stays the same.
Will my rights be affected?	The merger will not affect your rights as a customer or leaseholder. The new organisation will continue to honour the terms of your existing tenancy agreement, or lease, including any current rights you have to buy or acquire your home.
Will the amount of rent I pay be affected?	Your rent and service charge will not change as a result of the merger.
Will I need to change how I pay my rent or service charge?	Not initially, but if it goes ahead, we will write to you before any change is required to explain anything you need to do to change where and how you should pay your rent and service charges. We will give you plenty of notice and make the process as easy as possible to follow. If you owe money at the time the proposed partnership goes ahead (rent arrears, court costs, or money for damage or a rechargeable repair), then these debts would stay with you and we will still be able to enforce existing Court Judgements for these arrears.
Will services offered be affected?	Not as a direct result of the merger. The new organisation will continue to provide the service offering that is provided today.
Will I need to move house?	You will not be asked to move house as a result of the merger.
Do I need to do anything?	No, you don’t need to do anything, although we would really like your thoughts and opinions on the merger, as well as any ideas on how we can make the most of the opportunities it offers.
I’ve got more questions – who can I speak to?	You can speak to your neighbourhood coach or contact us on 0330 1234 034.
Can I get involved?	Absolutely, we will be arranging a number of opportunities to talk in person, and we will keep in touch to let you know when these will be.
I live in a shared ownership property, will it impact my lease?	No, everything that is currently in place for you stays the same.
I live in a shared ownership property, do I need to tell my mortgage company?	No, everything that is currently in place for you stays the same.
I am a freeholder/leaseholder/owner, does this impact me?	Everything will stay the same and we will continue to keep you updated as things progress.