Leading housing association developer Swan has announced plans to merge with fellow social landlord Orbit after dramatically failing a regulatory assessment due to poor management of its development programme.

The Regulator of Social Housing (RSH) said that the Essex and east London-based association, which has been a pioneer of using modern methods of construction (MMC) in the social housing sector, was now “non-compliant with the Governance and Financial Viability Standard”, following a “material deterioration in Swan’s financial position”.

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