RSH is to review housing association’s governance and financial viability gradings
The Regulator of Social Housing (RSH) has started a probe into Origin Housing Limited after putting its regulatory gradings under review.
The RSH said it is investigating a matter which may impact on the 7,000-home housing association’s compliance with the governance and financial viability standard.
Origin’s governance is currently graded at G1, the highest grade out of four, and its viability at V2. The association said the regulator’s decision to launch an investigation had come following an In Depth Assessment, and that it expected a result within six to eight weeks.
Origin Housing currently manages over 7,000 properties in London and Hertfordshire. In 2010, Origin Housing completed mergers with St Pancras & Humanist Housing Association and Griffin Homes and as a result, works in 14 areas across North London and Hertfordshire.
The regulator makes an announcement that a provider’s grading is under review when its compliant grade (G1 and G2 for governance, and V1 and V2 for viability), is being investigated in relation to an issue that may result in a downgrade to a non-compliant grade (G3 or G4 or V3 or V4).
Once the investigation has been completed, the outcome will be confirmed in a regulatory judgement.
Chief executive of Origin Housing, Carol Carter, said: “Origin is committed to working in partnership with the Regulator, to provide the assurance they require to confirm that we remain compliant with the governance and viability regulatory standards. During this process we remain focused on our social purpose - with our residents and local communities at the heart of our priorities.”
The RSH is currently consulting the housing sector on changes to its fees. It says the changes will enable RSH to carry out its expanded regulatory responsibilities, in line with the Social Housing (Regulation) Act 2023.
The regulator proposes charging housing associations £9 and £10 per social home they provide, which is almost double the current fee of £5.40 per home.
The consultation is running for eight weeks, and will close on Tuesday 31 October.