The Regulator for Social Housing has today confirmed our move for financial viability grading from V1 to V2. This is something that many of our sector peers have experienced as a direct result of the current financial climate and economic pressures that we’re operating in.
The regulator has confirmed that “Golding Homes has an adequately funded business plan, sufficient security and is forecast to continue to meet its financial covenants.”
Steph Goad, Chief Executive of Golding Homes said: “We understand this regulatory decision is down to the wider external environment and current economic pressures. We remain committed to investing in our existing homes, providing much needed new affordable homes and improving services in line with our corporate plan ambitions. We’re also making sure our organisation is fit for the future and well placed to respond to changing consumer regulations.”
A financial viability grading of V2 means Golding remains compliant and needs to continue to manage its financial plan and risks. The full definition is:
The provider meets our viability requirements. It has the financial capacity to deal with a reasonable range of adverse scenarios but needs to manage material risks to ensure continued compliance.
We retain our G1 governance grading.
You can read the full regulatory judgement here.