Regulator downgrades 2 HAs

The Homes and Communities Agency (HCA) has  issued two housing associations with regulatory downgrades.

Curo Group, which owns 12,600 homes in Bath and Bristol, has had its governance rating downgraded to ‘G2’, meaning it complies with standards but needs to improve. The HCA raised concerns that Curo Group may not be “able to sufficiently evidence that it can manage its own affairs with an appropriate degree of effectiveness”. Curo Group has now come up with an action plan including reducing the size of its board and streamlining committees.

The Joseph Rowntree Housing Trust (JRHT) has had its financial viability rating downgraded to ‘V2’, which means it complies but needs to manage risks to ensure continued compliance.