Manningham Housing Association (MHA) has been awarded the highest achievable gradings by the independent body responsible for overseeing the performance of housing associations in England.
Following a rigorous inspection process known as an In Depth Assessment (IDA), the Regulator of Social Housing (RSH) has upgraded MHA’s governance rating from G2 to G1.
The association’s financial viability rating has also been confirmed as V1, having been raised from V2 in December 2018.
RSH praised MHA in its formal judgement published earlier today.
The report says:
“Strategic objectives are clear, and we have assurance that the Board is monitoring performance effectively. Compliance and risk management have been further strengthened and the Board has effective oversight of the risks associated with the delivery of its strategy.”
“Based on evidence gained from the IDA, the Regulator has assurance that MHA’s financial plans are consistent with, and support, its financial strategy. The provider has an adequately funded business plan, sufficient security in place, and is forecast to continue to meet its financial covenants under a wide range of adverse scenarios.”
Lee Bloomfield, MHA Chief Executive, praised his team for their “unstinting efforts” in delivering such a positive outcome.
“The regulatory judgement is testament to what can be achieved when the Board and staff work together for the benefit of our customers and the long-term future of the association. They’ve been at the forefront of all this.
“We also have a shared determination to ensure the association has great standing in the community. MHA only exists because our customers are supportive of us. We’re here because of them.
“I am immensely proud to know that we’ve earned the confidence of the Regulator and been restored to the highest ratings possible.
“It is vital that we retain this momentum, strengthened by a properly-funded and robust business plan that supports growth and the delivery of more affordable homes in Bradford and Keighley.”
Barrington Billings, Chair of the MHA Board, said:
“This is an excellent result. I commend everyone who helped us to achieve it.
“There is a wonderful togetherness at Manningham Housing Association which I feel every time I meet with Board colleagues or chat with staff.
“Looking ahead, the coronavirus outbreak has raised challenges for all organisations, but housing associations such as MHA are particularly close to the communities we serve and will have a crucial role to play in the difficult weeks and months ahead.”
Cath Bacon, Chair of the MHA Customer Panel, said:
“Alongside the association’s professional staff and Board members, tenants have helped to guide MHA to such worthy recognition.
“The Customer Panel allows MHA tenants to have their say on how services are run and evaluate how these might be improved. “As one would rightly expect of people from Bradford and Keighley, they have not wasted this opportunity. That level of frank input has been beneficial to the association’s success.”