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We’re rated G1/V2 by the Regulator for Social Housing following their latest stability check

Our G1 rating has been affirmed in the Regulator for Social Housing’s latest annual stability check and our viability rating has been regraded to V2 from V1.

The driver for the viability regrade is down to us accelerating energy efficiency improvement works to over 2,000 of our Coventry properties which will see customers benefit from more energy efficient homes by the end of 2025 – which is five years earlier than the Government’s 2030 deadline. We included news about this in our first customer email back in April and have since held open days at community centres in Holbrooks and Canley and have written to around 1,300 customers already whose homes are due to benefit from these improvement works.

The purpose of the annual stability check is to confirm whether we are meeting the Regulator for Social Housing’s requirements of their governance and financial viability standard.

Maintaining our G1 rating means we meet the regulator’s governance requirements and is the highest governance rating.

V2 means we remain compliant with around 50 percent of the sector now rated V2.

Our chief financial officer Gary Booth said: “The Regulator for Social Housing has made it clear the driver for our regrade was our conscious decision to accelerate our retrofit improvement works on our existing homes to bring properties up to a minimum EPC C rating.

“We decided, with full support of our Board, to submit a significant bid for Wave 2 funding of the Social Housing Decarbonisation Fund last autumn and we were awarded £24m to contribute towards the £74m cost of the works. By the end of 2025, we will have carried out energy efficiency improvements to over 2,000 of our homes.

“These works will improve the energy efficiency of our customers’ homes ahead of the Government’s 2030 target and will follow our success from the funding we received in Wave 1 of the Social Housing Decarbonisation Fund.”

You can read the statement from the Social Housing Regulator about our G1/V2 status here.

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