Following the annual Stability Check, the Regulator of Social Housing (RSH) has regraded Brunelcare to V2. This means that Brunelcare continues to comply with the Regulator’s Financial Viability Standard.
The regrade reflects the organisation’s commitment to invest in its properties, following a full stock condition survey, and the resources required to do so. It also takes into account the potential of not achieving a limited number of property sales in the coming year, as Brunelcare invests in new shared ownership housing provision for the community.
Brunelcare welcomes the Regulator’s comment that the organisation: “has an adequately funded business plan, sufficient security in place and is forecast to meet its financial covenants.”
Brunelcare’s Chair of Trustees, Deborah Evans, said:
“Brunelcare is committed to providing all of our residents with homes to be proud of, which are safe, comfortable and fit for the 21st Century. This work does require investment and we are pleased that the RSH has recognised that our financial plans support our strategy.”
You can view the Regulator’s Judgement here: Regulatory Judgement on Brunelcare