Dear Editor,

 Your item, Fight to end plight of the homeless, (July 28), mentions that Brent council are setting up a relationship with the Genesis Housing Association to secure homes and manage properties.

It should be mentioned that, in December eighteen months ago, they pushed up their borrowings by a further £250m at the exhorbitant rate of over 6%, a rate regarded by the finance industry as unsustainable.

Their daily interest repayment (Yes, I did say "daily") is estimated at £140,000.

This is why GHA residents, including Paddington Churches Housing Association and Pathmeads HA have such a poor standard of service.

GHA should be looking to reduce their debt levels rather than engage in even more property speculation. In any case, Brent would be wise to keep one eye open for a solution if, halfway through the project, their partner cannot continue.

Peter Rutherford

Independent Federation of Genesis Residents.

www.ifgr.org.uk