Among those to be penalised were Peabody, Gentoo, Progress Housing Group, Bolton at Home and Fabrick.
The regulator found that the landlords had not addressed the value for money requirements in a ‘timely and transparent way’, and had failed to publish a robust self-assessment, which sets out in a transparent and accessible way how value for money has been achieved.
Others to be downgraded include Brunelcare, Heantun, Housing Hartlepool, Inquilab, Islington and Shoreditch, Mount Green, St Mungo Community Housing Association, Tristar and Two Castles.
Care provider Abbeyfield Society was heavily criticised for not meeting the value for money standard but was not downgraded further as it already has a ‘G2’ rating.
Matthew Bailes, HCA executive director of regulation, said:
“We expect providers to publish a transparent and robust self-assessment, in a timely way. It is vital that providers demonstrate a strategic approach to delivering value for money in the achievement of their objectives. A minority of providers have really risen to the challenge of the new VfM standard and have published clear, transparent, and comprehensive self-assessments that will allow stakeholders to understand their approach to VfM and hold them to account on their performance. Most have got some of the way there, but will need to do better next year.
However, 15 registered providers have not provided sufficient assurance of their compliance with the value for money standard and, as regulator, we have reflected this in our published gradings.”
The regulator expects providers to be clearer in addressing the specific requirements of the standard in their future self-assessments. Assessment of compliance with the value for money standard will continue to be reflected in providers’ published governance judgements.
The list of regulatory judgements and narrative reports are available on the HCA website.
