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RSH places London landlord on gradings under review list
A London-based landlord has been placed on the Regulator of Social Housing’s (RSH) gradings under review list.
In a regulatory notice on Friday, the RSH announced that it was investigating Origin Housing on matters that may affect its compliance with the Governance and Financial Viability Standard.
It comes after the English regulator completed an in-depth assessment (IDA) into the landlord, which owns and manages 7,000 homes across London and Hertfordshire.
The RSH said it was “currently investigating a matter which may impact on Origin Housing Limited’s compliance with the Governance and Financial Viability Standard”.
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Landlords being investigated for an issue related to their compliance are added to the English regulator’s gradings under review list until the investigation is completed and a new narrative regulatory judgement is published.
Origin currently has a governance grade of G1 and a viability grade of V2.
The investigation could lead to the landlord being downgraded to non-compliant grades of G3/G4 and V3/V4.
Earlier this week, Inside Housing revealed that Origin is pulling out of its operations in Essex and putting its properties up for sale.
It said it was looking for new owners for its retirement homes in Chelmsford to refocus its business on London and Hertfordshire.
In a statement published on its website, Origin said: “The Regulator of Social Housing has today, following an in-depth assessment, put our governance and viability gradings under review.
“We expect the outcome in six to eight weeks and will keep stakeholders informed.”
Carol Carter, chief executive of Origin, said: “Origin is committed to working in partnership with the regulator, to provide the assurance they require to confirm that we remain compliant with the governance and viability regulatory standards.
“During this process we remain focused on our social purpose, with our residents and local communities at the heart of our priorities.”
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