South Yorkshire Housing Association (SYHA) has been found to be non-compliant with a regulatory standard after breaching lending agreements due to business planning and control failures.

The Regulator of Social Housing (RSH) has judged the 5,700-home non-compliant with its governance and viability standard, awarding it a G3 and V3 rating for governance and viability respectively, meaning it is breaching the standard and needs to take action.

In a regulatory judgement published this morning RSH said SYHA has “not been managing its affairs with an appropriate degree of skill, diligence, prudence and foresight.”