RSH rating January 2021

The Regulator for Social Housing (RSH), which grades all housing associations has announced today (27 January 2021) that they have downgraded our governance to a G2 and we remain at V2 for viability.

Housing associations with a G2 rating are still compliant, and the downgrade won’t affect the services we deliver to our customers. The downgrading acknowledges the impact on the cost of our building safety programme, along with other costs we’ve had to address due to historic under investment.

We remain at a V2 rating for viability which means that as a housing association which develops new homes, we’re exposed to some market risk. We believe that building new affordable homes is what we should be doing and therefore we’re comfortable with this rating.

We will be working collaboratively with the Regulator, our customers, and stakeholders to return to a G1 rating as soon as possible.