HOUSING ASSOCIATION DOWNGRADE
- 22 Jul
"The Homes and Community Agency (HCA) downgraded 8,785- home Derwent Living to a G3 and V3, which means it is not compliant with regulatory standards", according to reports by Inside Housing
The following issues were put into consideration by the regulator:
- It was not convinced that Derwent's "risk management strategy is sufficiently developed for an organisation of Derwent's size and complexity"
- The housing association has not sufficiently developed it's understandings of assets and liabilities to identify and manage the risk flows associated with the group's activities and financial arrangements and
- The information to the board sometimes lacks precision and clarity.
Chief executive of Derwent, Peter McCormack, said:
"While disappointed by the news of the downgrade we are working with the HCA to address their concerns. The board is developing an action plan with a view to regaining compliant status as quickly as possible."
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Picture Credit: Arbetay HA
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Revenue Optimisation "We really appreciate the work that Support Solutions did for Home Group in securing significant additional revenue for our supported housing schemes. This really will make a positive difference to the way in which we support our vulnerable tenants". Dave Coope - Home Group