55WI Southern.h 47

Southern Housing upgraded to highest governance rating by Regulator

The Regulator of Social Housing has published a Regulatory Judgement for Southern Housing today:

·    Governance              G1                   Upgraded from G2

·    Viability                      V2                   Unchanged

·    Consumer                 C2                   New judgement

Our interim judgement had been G2 after we merged in December 2022. The new rating shows the significant progress that's been made over the last 20 months.

We've retained our V2 (financial viability) rating which is in line with other large housing associations.

We're also the first large housing association to get a C rating. We've been awarded a C2 (consumer) grade which reflects the good progress being made in many areas.

Paul Hackett, Chief Executive of Southern Housing, said: "Our new board and Executive Team were determined to secure G1 at our first regulatory inspection. We're therefore delighted the Regulator has recognised the hard work of everyone connected to Southern Housing in awarding this rating.

We established Southern Housing with the aim of creating a more resilient organisation and that is clearly happening. We're on track to be fully integrated by Summer 2025. This will enable us to realise the full benefits of the merger and I'm confident we'll deliver services to a consistently higher standard."

MORE INFORMATION

https://www.gov.uk/government/publications/southern-housing

https://www.southernhousinginvestors.co.uk/