RBH positive judgement from regulators

Gareth Swarbrick, Chief Executive of RBH

Rochdale Boroughwide Housing (RBH), the UK’s first tenant and employee co-owned mutual housing society, has today [Wednesday 18th December] received a positive first official regulatory judgement from the Homes and Communities Agency.

The HCA assesses housing providers and produces a ‘Regulatory Judgement’. They have indicated that RBH is “properly governed” (the highest rating) and “viable”.

Gareth Swarbrick, Chief Executive of RBH, said: “We’re extremely pleased with our first regulatory judgement as a mutual organisation. Our new mutual governance structures, placing our tenant and employee members at the heart of our decision-making process, are the first of their kind. We’re delighted that the regulator has shown confidence in our ability to meet the challenges ahead and to deliver for our tenants and communities”

The HCA rating of G1, or “properly governed”, shows that the regulator believes that RBH is meeting the requirements set down on governance. The V2, or “viable”, rating, means that the regulator believes that the requirements on financial viability are being met but that as a new organisation RBH still faces a number of challenges ahead.

Gareth Swarbrick added: "I'm extremely proud of the hard work that our employees, tenants and board members have put in together to ensure that the judgement was positive."