HCA to downgrade housing associations after poor VfM performance
Published by Max Salsbury for 24dash.com in Housing
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The Homes and Communities Agency will downgrade a number of housing associations in the New Year as a consequence of their poor value for money performance.
Speaking in London today, Julian Ashby, chair of the HCA's regulation committee, said that a "handful" of social landlords would be downgraded after Christmas.
Ashby didn't name any of the HAs that will be affected by the downgrades nor by how many points individual providers would be hit.
The HCA has two rating systems: its 'G' governance scale and 'V' financial viability scale.
Ashby was speaking at the Housing Quality Networks' Resident Network Conference when he made the announcement.
A HCA spokesperson said: “The regulator has been reviewing providers VfM statements and where it has concerns it will be writing to the providers to follow up on the issues. If the regulator believes there has been non-compliance with the VfM standard then it will reflect this in its public judgements in a timely manner.”