Regulator of Social Housing grading for Habinteg | Tenant news

Following a financial health check by the Regulator of Social Housing (RSH), Habinteg has been awarded a compliant V2 grade for viability and retains its compliant G2 rating for governance.

 A V2 grade means the regulator recognises we can afford our business plan and that we have the capacity to deal with a reasonable range of challenges. It will not affect Habinteg’s services or our investment programme.

Habinteg is one of 34 housing associations that were regraded to V2 in November. The regulator has warned that up to two-thirds of large housing associations could receive a V2 rating by the end of 2022.

Regrade driven by investment

The RSH explained the regrading in its report: “Habinteg is increasing investment in its existing homes…”

“When coupled with the current economic environment including inflationary and interest rate pressures, this reduces Habinteg’s capacity to manage a wide range of adverse events.”

Strengthening governance

Nick Apetroaie, Habinteg CEO, explained: “We accept the regulatory judgment that Habinteg continues to meet the viability standard, which reflects Habinteg’s commitment to increased levels of investment in our customers’ homes. We will continue to deliver the improvements we have committed to.

“Our long-term business plan continues to be supported by a strong financial position, and we will regularly review our plans in light of the external economic context.

“We are also working with the RSH, our Board, our staff and customers to strengthen our governance arrangements further with a view to regaining G1 grading.”