Two senior members of the ANCHO management team have been suspended after allegations of financial irregularities or mismanagement.

Sources said an investigation was now underway.

A spokesperson for ANCHO told the Irvine Times: “It is not our policy to discuss internal management issues.”

A spokesperson for North Ayrshire Council said: “We are aware of this but it would be inappropriate for us to comment.”

ANCHO was registered in 2000 and owns and manages 676 houses and provides factoring services to 197 owners.

The housing provider recently decided to take forward proposals to enter into constituitional partnership discussions with Cairn Housing Association (Cairn).