South Lakes Housing retains Governance (G1) & Viability (V2) ratings by the Regulator of Social Housing

We are pleased to share the Regulator of Social Housing’s (RSH) annual stability check report, where the RSH have confirmed that South Lakes Housing’s Governance and Viability ratings remain unchanged at G1 / V2.

This follows on from financial and other regulatory data returns that we have submitted throughout the past year. The RSH undertakes annual stability checks to assess financial robustness and evidence of any significant changes in risk profile.

The Regulator confirmed that SLH has retained the highest governance rating of ‘G1’ which provides stakeholders with a strong level of assurance that the Housing Association continues to be well managed and effectively governed.

In its V2 rating, which has become the norm for the sector recently, the report states that SLH has the financial capacity to deal with a reasonable range of adverse scenarios but that we need to manage material risks to ensure continued compliance. The V2 rating is as much a reflection of the risks within the external operating environment and the SLH Board has responded by recently reviewing its risk appetite and updating its risk management and assurance processes to ensure that the risks effecting the successful delivery of the business strategy are well mitigated.

You can view the full Regulatory Judgement at: https://www.gov.uk/government/publications/regulatory-judgement-south-lakes-housing

 

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