Government publishes judgement on housing group which manages homes across Northants, Beds, Bucks and Herts

The findings have been published in a Regulator of Social Housing report which looks at how well Grand Union Housing Group Ltd is meeting regulatory standards.

It states the landlord is meeting both governance and viability requirements with the financial capacity to deal with a reasonable range of adverse scenarios but ‘needs to manage material risks to ensure continued compliance’.

The regulatory judgement for Grand Union Housing Group followed a stability check review and responsive engagement.

The aim was to assess whether there were any material risks that may result in a change to Grand Union’s financial viability or governance gradings, as part of an annual stability check programme.

A responsive engagement that focused on Grand Union’s viability grading was also carried out. The stability check review and responsive engagement were completed in November 2024.

The regulatory judgement confirms a governance grading of G1 and a financial viability regrading of V2.

The findings state: “From the stability check review, there is no evidence to indicate a change in governance grading is required.

"Based on evidence gained from the 2024 stability check review and responsive engagement, we have assurance that Grand Union meets the financial viability requirements of the Governance and Financial Viability Standard and that its financial plans are consistent with, and support, its financial strategy. Grand Union has an adequately funded business plan, sufficient security and is forecast to continue to meet its financial covenants.

“We have not yet assessed this landlord against the consumer standards.”

Grand Union is a charitable community benefit society focused on the delivery of core landlord services and provision of new homes. The company was formed as a result of the amalgamation of three housing associations.

As of March 2024, the group owned and managed 12,638 homes across Bedfordshire, Buckinghamshire, Northamptonshire and Hertfordshire. The company reported a turnover of £95m for the year ended March 31, 2024 and employs the full-time equivalent of 381 staff.

The social housing regulator acts to drive improvement in how landlords, namely registered providers of social housing, operate. These can either be local authorities, or private registered providers, and include other organisations registered such as non-profit housing associations, co-operatives, or profit-making organisations.