Regulator investigating London housing association’s financial viability
Shepherds Bush Housing Group (SBHG) is being investigated in relation to an issue that may impact its financial viability grading, in addition to a previously announced probe into its governance.
The Regulator of Social Housing (RSH) has updated its gradings under review listing for the west London landlord three months after it was first placed on the list due to governance issues.
Landlords are placed on the regulator’s gradings under review list when they are being investigated for a matter that may impact their compliance.
SBHG was placed on the list in December due to governance issues, but the update means the 5,000-home landlord’s financial viability grading is also at risk of being downgraded to a non-compliant grading.
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Landlords remain on the gradings under review list until the regulator completes its investigation and publishes a new narrative judgement.
SBHG currently has a rating of G2/V2.
When the group was added to the regulator’s gradings under review list in December, its chief executive Matt Campion said it was “determined” to maintain its current grading and vowed to work closely with the regulator to satisfy its concerns.
In March 2020, SBHG was found to have breached the Home Standard due to failures related to its electrical and asbestos checks.
On today’s update, Mr Campion said: “Whilst we are disappointed to have been placed on the gradings under review list we are and have been committed to closely managing the group’s resources. The external environment is fast changing and, like most RP’s, we are reacting by being agile and continually re-planning, forecasting and managing risks. We understand the regulator’s role to seek assurance around business plans and we will be working closely with them in the coming weeks and will be doing everything we can to satisfy their concerns.”
