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Moat Housing Group and Genesis Housing Group are due to submit their bids for the 5500-unit registered social landlord to its board today.

Springboard has been under Housing Corporation supervision since August 2002 and received three amber lights and one red in its recent Housing Corporation"traffic lights" performance assessment.

It is one of a growing number of smaller associations that have recently sought to join larger group structures in an attempt to ensure their futures and ease access to funding.

Moat chief executive John Barker said: "When Springboard approached us last summer it seemed an ideal fit. There are a range of things we feel will work for us and for them."

A spokeswoman for Genesis said: "We are really pleased that we have been shortlisted and hope that Springboard decides to join the group."

Springboard chief executive Mark Gayfer said: "We are looking to join the group structure of a larger RSL and have asked for bids from our shortlist of two associations by the end of this week."

London & Quadrant Housing Trust was on the original shortlist of three associations drawn up in the summer to take on Springboard, but pulled out at the end of October. It declined to comment on the reasons for this move.

Gayfer, who was promoted from finance director in March, said Moat and Genesis would make presentations to Springboard's board on 5 December. The decision will be made by the end of January and Gayfer hopes Springboard will join its chosen parent by September 2004.

"We are also continuing discussions with Flagship Housing Group over a strategic alliance if the two bids we receive are not up to scratch," he said.

He said Springboard was under no pressure from the Housing Corporation to join a bigger RSL.

"The principal reason for doing this is that each of the bidders has agreed to give us funding of between £12m-15m towards our £22m stock improvement programme," he said. Springboard will complete its improvement programme by 2007.

Gayfer went on: "We will be able to fund the other £10m, as we have increased our rents to Housing Corporation target rent plus 5% as of April this year.

"We hope to lower rents back to the target level as soon as we can and are currently working on doing this."

Blue Mountain Housing Association of Stoke-on-Trent has become a subsidiary of Staffordshire Housing Association.

Blue Mountain, Staffordshire's only black and minority-ethnic association, currently manages 40 homes and now hopes to expand.