Broadacres Housing Association has had its governance and viability gradings placed under review following problems at a development subsidiary.
Regulator the Homes and Communities Agency (HCA) said the respective G2 and V2 ratings were being investigated over “a matter that may impact on the provider’s compliance with both the governance and financial viability elements of the Governance and Financial Viability Standard”.
Broadacres was given the G2 and V2 ratings in August Any downgrade could take Broadacres into the ‘non-compliant’ categories for governance or viability.
The HCA highlighted then what it said was increased financial risk because of Mulberry Homes Yorkshire’s performance.
Northallerton-based Broadacres was formed in 1993 as the stock transfer landlord of Hambleton District Council.
It now operates across 10 further Yorkshire districts and owns some 5,900 homes.