Regulator’s annual 'health check' is good news for RBH

Rochdale Boroughwide Housing logo

The annual stability check carried out by the Regulator of Social Housing (RSH) has brought good news for RBH, who have retained their positive ratings for governance and financial viability.

All housing associations with more than 1,000 homes receive an annual stability check, in addition to an in-depth assessment which takes place every three to four years. RBH undertook an in-depth assessment in early 2017, and the Regulator awarded RBH highest governance rating (G1) and the second-highest viability rating (V2). Today's stability check confirms that RBH have retained these positive ratings.

Gareth Swarbrick, RBH Chief Executive, said: "In early 2018 we published our new corporate strategy, Together. We set out how we want to change and improve the way we work to deliver services our customers and communities value, whilst ensuring that RBH is a strong and financially successful mutual society that is resilient to future challenges.

"We're really pleased that our annual stability check from the Regulator shows that we are on track, and that our pioneering mutual governance model continues to provide effective decision-making and risk management.

"We know that effective governance and financial sustainability are vital to enable us to meet our aspirations for the next ten years and beyond. This positive judgement is the result of RBH employees, tenants, members, and board members working together to make Rochdale a great place to live and work."

The HCA rating of G1 shows that the regulator believes that RBH is meeting the requirements set down on governance. The V2 rating, means that the regulator believes that the requirements on financial viability are being met but that RBH continues to have risks and challenges to manage.