Four RSLs moved to low engagement by the Regulator
The Scottish Housing Regulator has removed the regulation plans for four housing associations after receiving the relevant assurances it required.
The Regulator will now have low engagement with Cassiltoun, Cathcart & District, Linthouse and Molendinar Park housing associations.
Low engagement means the Regulator will receive the standard returns including the RSLs audited accounts, Annual Return on the Charter (ARC) and five year financial projections.
Molendinar Park Housing Association told Scottish Housing News it was pleased that the Regulator has been assured that the constitutional problem identified in 2017 has been resolved effectively.
The association’s chair, Andy Scott, paid tribute to the work of both staff and committee members which resulted in its swift progress to restore regulatory compliance.
He said: “I am delighted that the very significant efforts of staff and committee members have delivered substantial change at MPHA – the SHR is now assured that we comply with regulatory standards and this is due to the enormous commitment of everyone at MPHA who has worked immensely hard to do everything required to ensure that the high standards we aspire to are reflected in our policies and procedures as well as our practice.
“It is especially pleasing that, during some very difficult months, services to tenants were unaffected: our most recent tenant satisfaction survey conducted during the autumn reported some impressive improvements in key areas whilst other service levels were maintained. I am grateful to the staff team and my committee colleagues for their commitment and support and we are all looking forward to moving forward and delivering continued success.”
Cassiltoun Housing Association CEO, Charlie Millar, also told Scottish Housing News: “Cassiltoun Housing Association has worked closely with the Scottish Housing Regulator since April this year to demonstrate our business planning and financial capacity in preparation to take forward our plans to build 102 new houses over the next three years. I am pleased that we could provide the SHR with the level of assurance they required.
“Moving back to low engagement within nine months is a great achievement. As a result of the Regulator’s in-depth analysis of our business planning process, the Board of management have taken great assurance from this robust process.”