Each year, the Regulator of Social Housing (RSH) carries out a stability check to review our governance (G) and financial viability (V).
Today, the RSH published the results of that check and confirmed our rating as G1/V2. This is a change from our previous rating, but it’s one we expected and which our Board fully supports. It reflects the significant investment we’ve committed to improving our existing homes - making sure they’re safe, warm and the very best they can be for our customers.
The check found: “Vico Homes’ financial plans are consistent with, and support, its financial strategy. Vico Homes has an adequately funded financial plan, sufficient security in place to support its plans, and is forecast to continue to meet its financial covenants.”
Our governance grade is unchanged, confirming the very highest rating for our governance arrangements. The change to financial viability is well within compliance with the RSH’s viability requirements and is a direct result of the choices we’ve made to put customers first.
We’re proud of our ambition and we’re committed to building more homes for more people - Responding to the government’s call to action and the growing demand for high-quality social housing. At the same time, our priority will always be to care for the homes we already have and the customers who live in them. This means continuing to invest in safety, comfort and sustainability, while creating new opportunities for future customers who need a place to call home.