Radian and Yarlington will explore options over the coming months to form a partnership which they said will deliver “long-term benefits for residents, help develop digital services and support more tenants into jobs and careers.

Gary Orr, Radian chief executive, said: “We’re excited by the potential of this partnership, and with the increased scale and reach it could give us the capacity to do so much more. We want to create an organisation that is ready for the future, is a major contributor to addressing the housing needs of southern and south west England, and together we can continue to provide a fantastic experience for our customers and communities.”

Caroline Moore, Yarlington managing director, added: “Our aim for the new organisation is to be a fantastic place for people to work, to develop and to progress careers. The colleague experience is a key part of our future vision. Working together, a new organisation would also be able to achieve more for its customers and towards helping to solve the housing crisis than either could do alone.”