The Regulator of Social Housing (RSH) has published a non-compliant Regulatory Judgement (RJ) for Tower Hamlets Community Housing (THCH), in which the provider is graded G3 for Governance and V3 for Financial Viability.  In THCH’s previous RJ published in November 2021, the provider was graded G1 for Governance and V2 for Financial Viability.  THCH owns and manages over 3,000 social rented and leasehold homes and its core focus is the delivery of social housing and related services in partnership with the diverse local communities of Tower Hamlets.

In publishing the RJ the RSH said:

“Following an investigation, the regulator found weaknesses in Tower Hamlets Community Housing’s governance and financial position. Its board failed to show that it is managing these risks appropriately, or that it has mitigations in place to ensure the provider’s long-term viability.

Tower Hamlets Community Housing’s financial weakness means that it is unable to meet the costs of its day-to-day operating activities and repair liabilities. In addition, it has relied on poor-quality data when forecasting investment spend for its existing homes”.

All of the RJs, Regulatory Notices and Grading Under Review listings published by the RSH can be viewed on the RSH’s website here.