Hundreds of Faifley homes look set to transfer to a new owner as a housing association prepares to turn over the keys.

Social landlord Faifley Housing Association (FHA) announced earlier this year that their position was “not viable in the long term”.

Tenants in their 332 homes have been kept up to date as FHA moves through a formal 12-month process that will see the end of the landlord.

Last month they told their residents that they had appointed Caledonia Housing Association (CHA) as their preferred transfer partner.

Tenants identified priorities such as keeping rents affordable, investing in properties as well “modernising the service”.

Both housing associations will now work on a joint business case to present to the tenants for consultation.

Alan Nairn, chairman of CHA, said: “I am delighted that we have been selected as the preferred partner by Faifley.

“We look forward to working with the Faifley team to build a business plan around the needs of the tenants and the community.”

Jackie Lorimer, Faifley’s chairperson, added: “Accepting CHA as the preferred transfer partner is the first step on the journey for a better future for our tenants.

“We want to provide good quality homes at an affordable rent and be able to maintain them and support the demands and varied needs of our community. We can do this if we work with Caledonia.

“This is just the beginning of the process.”

Last year FHA launched an urgent review after indications a year earlier “things weren’t right” in governance and financial management.