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G1 and V1 ratings confirmed by the Regulator of Social Housing | South Lakes Housing

G1 and V1 ratings confirmed by the Regulator of Social Housing

South Lakes Housing has today received confirmation of the highest regulatory judgement for both governance and viability from the Regulator of Social Housing (RSH) following an ‘In Depth Assessment’ (IDA), conducted over the past 3 months. The intensive process involved scrutinising documental evidence, interviews with the Executive and Chair of the Board and the Audit & Risk Committee, and observing a meeting of the SLH Board.

The judgement is: Governance grade: G1 and Viability grade: V1

The assessment considered how South Lakes Housing manage risks; concentrating on financial risk, health and safety standards and the capacity to react and withstand economic and other shocks such as Brexit and flooding. The skills and competence of Board Directors were put to the test and the internal controls and performance management of the Board were scrutinised.

Cath Purdy, Chief Executive, said “We are delighted to maintain the highest gradings and I thank Board Directors, tenants and staff for their efforts in helping us to do so. The results give assurance to our tenants and other shareholders that we are in good shape – and we can move forward with confidence to ensure we continue to offer great homes and excellent services and that, working with partners, we drive up the number of much needed new affordable homes in our area. This positive judgement is testament to the work that we have done to develop our governance, improve skills and risk management. Naturally there are some areas where we can further improve, and we will not be complacent! We want to make a real and positive impact for the residents and communities we serve – and we aim to do just that“.