Top marks for performance at Futures
The HCA, the Government’s housing regulator, carried out an In Depth Assessment (IDA) to find out how well governed and financially viable the housing provider is.
And following the inspection, which started back in December last year and was completed in March, Futures was awarded a “G1V1″ rating – the highest possible rating. An organisation is deemed to be failing if it scores less than G2 V2.
The top grading provides assurances that an organisation is well run and sets solid foundations for Futures to begin its ambitious plan to build more than 1,000 new homes over the next four years.
Lindsey Williams, Group Chief Executive at Futures, said: “We are really pleased with the HCA’s judgement. It is a reflection of the hard work and excellent performance of all our teams over a number of years.
“Not only that, it demonstrates that the HCA has confidence in how we are managing the risk around our plans to build more homes with a range of different tenures and our work in the private rented market.”
Inspectors looked specifically at the Group’s structure and governance, how compliant it is with various regulations, how it manages risk, finances, value for money, development and asset management.
“We believe we are a strong performing organisation and it is pleasing to see this belief endorsed by our regulator following a tremendously rigorous assessment," said Lindsey.
“It is not easy maintaining such high standards so it is a testament to everyone who works so hard to make the business succeed. Having G1 V1 will stand us in good stead for the exciting times which lie ahead.”