More than half of the social rented homes provided by London’s largest housing associations are at risk of becoming unsustainable to manage due to changes in rent policy, according to new analysis.

Data collected from the G15 group of associations shows £2bn in rental income which could have been used to improve homes have been lost over the past few years due to the government scrapping its rent convergence policy.

Historically, the level of social housing rent residents pay to councils and housing associations has varied depending on when and where their home was built. To counter this, from 2002, the government allowed cheaper rents to increase by the Retail Prices Index (RPI) + 0.5% and a maximum of an additional £2 per week, every year. But this policy was scrapped in 2015.