The Regulator of Social Housing has revealed that it has placed My Space Housing Solutions under review.
Effective from today (18 September), the regulator has added the Bolton-based housing association to its Gradings under Review list, which could see it awarded a non-compliant G3 or G4 grading for governance and V3 or V4 grading for viability.
My Space Housing Solutions recently passed the 1,000-unit threshold and as such does not currently have a current published grade.
The regulator is investigating matters which may impact on My Space Housing Solution’s compliance with the Governance and Financial Viability Standard.
The regulator’s gradings under review list documents all providers that are currently being investigated for an issue that may result in non-compliant gradings for its Governance and Financial Viability Standard.
The outcome of the investigation will be confirmed in a regulatory judgement.
The Regulator of Social Housing (RSH) aims to promote a viable, efficient, and well-governed social housing sector that is able to deliver homes for a range of needs.
It does this by implementing robust economic regulation focusing on governance, financial viability, and value for money, which, if properly adhered to, should maintain lender confidence and protect the taxpayer.
The RSH also sets consumer standards and may take action if these standards are breached and there is a significant risk of serious detriment to tenants or potential tenants.
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