We have maintained the highest possible financial and governance rating with the Regulator for Social Housing.
In its recent stability check published, the Regulator awarded us a V1 viability rating and G1 governance rating – the highest score it can award.
The judgement includes a look at our business plan and financial accounts to ensure financial robustness and any significant changes to our risk profile.
It also looks at how the organisation is run - how our Board makes strategic decisions and provides oversight of the company.
In response to the announcement, Chief Executive, John Clark, said: “We’re extremely pleased that our financial and governance position has been confirmed by the Regulator, particularly in the current challenging financial climate we all find ourselves in. We have worked continuously over the years to retain our social values whilst being more commercial in our business activities. This has enabled us to develop more homes with our partners, complete significant major works programmes to maintain the high standards of our homes and all whilst continuing to provide high standards of service to our residents. This couldn’t have been achieved without the hard work, commitment and innovation of our staff team and the leadership and effective decision-making of our Board of Directors.”
Director for Business Services and Development, Nick Jackson, gave his reaction to the judgement, saying: “Despite the challenging financial climate we have faced as an organisation and sector throughout the Coronavirus pandemic, the measures we have put into place mean we have been able to secure a stable financial position to take us forward to achieve our ambitions."
Mr Clark summed up by saying: “We see this latest judgement as public confirmation of our position as a leading, growing housing association with strong ambitions to build new homes and improve existing ones, and this rating will enable us to continue to deliver our ambitious plans. Whilst we are commercial and make good business decisions, we remain true to our social purpose - we are committed to doing the right thing, and providing homes and services that people want and can afford.”
We launched a refreshed Strategic Business Plan at the beginning of the year, which cements our ambitions to improve people’s lives by providing affordable homes, great services and supporting communities.