Both boards 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.

A shadow board and executive team have already been appointed to lead the new organisation, which they say will be the largest of its kind in the region.

The target completion date for the legal merger is 27th October 2025.

The new organisation will focus on improving services for existing residents, delivering more affordable homes and investing in local communities.

Paradigm also announced in March that it was in discussions about buying 3,500 homes from L&Q in south Buckinghamshire.

Rod Cahill, interim chief executive at Settle, commented: “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.

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“Everyone has shown real commitment to making this work, which bodes well for the partnership to go from strength to strength.”

Richard Moriarty, designate chair at SettleParadigm, 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 at SettleParadigm, added: “Everything we do is about providing high-quality homes, great services to our residents and 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 while remaining genuinely local.

“We have an exciting future, building from the best in both organisations.”