Regulator of Social Housing - Gradings Report
We have been awarded a C1, V1 and G1 grading from the Regulator of Social Housing.
The new C grading, introduced in April 2024, is focused on ensuring customers are safe in their homes, treated with fairness and respect and able to influence the quality of services.
We retained the highest grades for both Viability - V1 and Governance - G1. The three gradings cover:
- How well our governance arrangements enable the Trust to effectively manage risks, adequately control the organisation and ensure it continues to meet its objectives (G grading)
- Our financial viability and whether we are in a good financial position to deliver our business and corporate plans (V grading)
- A brand-new consumer grading (from April 24) focused on ensuring tenants are safe in their homes, treated with fairness and respect, plus able to influence the quality of services received (C grading)
Whilst we are delighted with this news, we continue to shape our plans for the Trust, and we know there’s still work to do. We want to continue to improve our services and make a positive difference to customers and communities. It is customer voices that matter most, and we must and will keep listening.
In its judgement, the Regulator recognised our strengths, including:
- WVHT provides a wide range of opportunities for tenants to influence and scrutinise its strategies, policies and services. There are clear arrangements in place for tenant engagement that are well supported by WVHT. There is also evidence that feedback from tenants has been used to help shape the design and delivery of services, and that WVHT actively considers tenants’ diverse needs.
- WVHT has a risk management and control framework that aligns to its strategic risks. There is evidence of risk being managed effectively in practice. There is also evidence of board discussion and challenge on WVHT’s performance against its strategic objectives, and board oversight of controls and assurance on its strategic risks.
- We have appropriate assurance that WVHT’s board has effective oversight of loan covenant compliance and there is evidence that it has proactively implemented mitigations to maintain good levels of forecast headroom. WVHT forecasts strong interest cover, while continuing to deliver its development programme and investing in existing stock.
You can read the full RSH report HERE