Highest governance and financial judgement from the Regulator for Social Housing
We are proud to announce some great news, as today the Regulator for Social Housing has confirmed we have kept the highest possible financial and governance ratings that a housing association can achieve.
The Regulator has awarded us a V1 viability rating and G1 governance rating – the highest score it can award - as a result of our recent IDA (in-depth assessment).
The judgement includes a look at our business plan and financial standing to ensure we are financially sound and there has been no 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: “In a week of fantastic results, this is the icing on the cake. Not only have we kept our IIP (Investors in People) Gold, we’ve now retained our G1V1 ratings from the Regulator. This really is fantastic news, particularly in the current challenging times we’ve battled our way through.
“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."
John summed up by saying: “We see this latest judgement as public confirmation of our position as a leading housing association that improves lives by providing affordable homes, great services and supporting communities, with ambitions to grow and expand. 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 putting residents at the heart of what we do.”
Our ambitions were detailed in our refreshed Business Plan at the beginning of the year, which you can find out more about in the animation below: