Our work is monitored by the Regulator of Social Housing, an executive non-departmental public body, sponsored by the Ministry of Housing, Communities and Local Government.
Following an expansion of the regulator’s powers from 1 April 2024, they have begun carrying out regulatory inspections of social landlords. Our first inspection under the new regime took place over the summer of 2024, with the outcome announced on 27 November 2024.
We are graded at level two against the regulator’s viability standard (V2) and level three against both their governance and consumer standards (G3 and C3).
Those gradings mean that the regulator is satisfied that we meet its financial viability requirements, but that we need to make significant improvements to our governance arrangements in relation to our business planning, risk and control framework, and to our delivery of the outcomes of their consumer standards. Specifically, we need to focus on the regulator’s safety and quality standard.
The regulator acknowledges that we are already taking action and have plans in place to address their concerns, and we are continuing to work with them now to agree a comprehensive and realistic action plan. That plan will build on the foundations we’ve established in recent months and on the progress we’ve made so far through our Better Together strategy.
For more information about our regulatory outcome and updates on progress, please visit the performance section of our website.