On Sunday 1 October Sovereign merged with Network Homes. The proposed merger was announced on Monday 13 March 2023 and the final business case was approved by Sovereign and Network Homes’ respective boards on Thursday 7 September 2023.

The new organisation, SNG (Sovereign Network Group), is one of the largest housing associations in the UK, with over 84,000 homes and 210,000 customers across the south of England, including London.

We have a clear purpose to provide good, affordable homes: the foundation for a better life, and a vision of thriving communities, over generations. Our expectations for good homes are reflected in our Homes and Place Standard. Our size and geographic breadth means we own a diverse range of homes offering stability alongside growth potential.  

Mark Washer is the Chief Executive Officer of SNG and Helen Evans the Deputy Chief Executive. Paul Massara is the Chair and Jon Gooding the Deputy Chair.

SNG will have an annual income of over £800m in 2024-25 and will invest £8.5bn over the next ten years, building 25,000 new homes – almost 4,000 more than in current plans, as well as regenerating estates and improving the quality of existing homes. A new Community Foundation is also being established which will invest £100m over a ten-year period.

Find out more about the merger and SNG

Our strategy is to continue to grow, staying financially strong through good governance and performance management so we can invest more in the things that matter – building more homes and making better places.

To achieve our commercial and social goals, we need a diverse range of funding which is cost-effectively structured to provide the necessary funds and maintain liquidity. This includes an appropriate mix of bond and bank finance.  

Treasury communications