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Regulator regrades both governance and viability at association
A 5,800-home housing association has had its governance upgraded, while its viability has been pushed down a rating.
English social housing regulator the Homes and Communities Agency (HCA) changed The Community Housing Group’s governance rating to G1 and its viability to V2. The judgement was one of 21 published by the HCA today (see table below), with no changes to the ratings for the other 20 landlords.
Community Housing Group, which owns homes across Worcestershire and Shropshire, had its viability rating downgraded because the regulator said it needs to “manage material risks”.
Its performance in its social housing business is forecast to weaken, meaning there will be an increased reliance on other income streams, the regulator said.
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The association’s governance was downgraded last year because the regulator concluded it needed to improve to have better oversight of financial information and that the governance structure was “overly complicated”.
The regulator’s report said it now has assurance that the governance and risk management framework “are appropriate for the size, complexity and financial position of the organisation.”
A new group board has been recruited in line with the skills required for the business and the risk management framework better identifies key risks.
Ray Brookes, group chief executive of The Community Housing Group, said: “We are delighted to have regained a G1 governance rating following a period of review and restructure in consultation with the HCA”.
Latest HCA regulatory judgements
| Provider | Governance rating | Viability rating | Change |
| A2 Dominion Housing Group | G1 | V1 | No change |
| Adactus Housing Group | G1 | V1 | No change |
| Chelmer Housing Partnership | G2 | V1 | No change |
| Community Housing Group | G1 | V2 | Governance upgraded, viability downgraded |
| Croydon Churches Housing Association | G1 | V1 | No change |
| Fortis Living Group | G1 | V1 | No change |
| Irwell Valley Housing Association | G1 | V1 | No change |
| Longhurst Group | G1 | V1 | No change |
| Ocean Housing Group | G1 | V2 | No change |
| Orwell Housing Association | G1 | V1 | No change |
| Paradigm Housing Group | G1 | V1 | No change |
| Pickering and Ferens Homes | G1 | V1 | No change |
| Rosebery Housing Association | G1 | V1 | No change |
| Shepherds Bush Housing Association | G2 | V1 | No change |
| Shoreline Housing Partnership | G2 | V2 | No change |
| Southway Housing Trust | G1 | V1 | No change |
| Stafford & Rural Homes | G1 | V1 | No change |
| Torus 62 | G1 | V1 | No change |
| Trafford Housing Trust | G1 | V1 | No change |
| Victory Housing Trust | G1 | V1 | No change |
| Watmos Community Homes | G1 | V1 | No change |
