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    “Governments in Scotland, Northern Ireland, and Wales are planning to weaken regulation in the social housing sector ahead of a crucial decision by the Office of National Statistics (ONS) this month”, Inside Housing, reports

    The ONS is expected to reclassify housing associations as public sector bodies.

    Ministers do not want this reclassification because such a move would put housing association debt on the national balance sheet, which would mean association borrowing is restricted.

    A consultant and former head of social housing at Dunfermline Building Society, said:

    “My fear is that new lenders will be put off.”

    According to the director of regulation, finance, and risk at the regulator, Ian Brennan, lenders would look at the deregulation package and “decide if they have implications for the credit rating of registered social landlords”.

    He also said:

    “We will continue to work constructively with government and lenders to deal with any challenges which may arise from this.”

    What do you think?

    Please tweet comments @suppsolutions

    September 16, 2016 by Abimbola Duro-David Categories: Housing And Benefits

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