Salix Homes maintains G1 V2 rating with regulator

The regulatory judgment for the 8,000-home association based in Salford was announced this morning.
Following a recent In-Depth Assessment (IDA), Salix Homes has secured a G1 rating for governance, the top rating that can be given, and a V2 rating for viability by the social housing regulator.

The latest judgement, on a four yearly cycle, retains the same rating as the organisation’s first IDA in 2016.

Grainne Heselwood, chair of Salix Homes said: “We’re thrilled that we’ve maintained our G1 governance rating, confirming the high quality of our governance structures. I am so proud of our team – their dedication to Salix Homes has helped to make the company who we are and what we stand for today.

Grainne Heselwood continues, “Even in a time of crisis, during the COVID-19 pandemic when the assessment took place, our employees have continually gone above and beyond and shown resilience a to complete job roles to the highest standards. The sustained G1 rating from the regular is just another positive indication of all their hard work.”

Salix Homes became an independent housing association five years ago following a stock transfer from Salford City Council and since then has invested over £77 million into improving homes and communities within and around the Salford area , consequently ensured 100% of properties meet the Government’s Decent Homes standard by the end of this year. The company has also transformed 178 empty buildings into new homes and let over 2000 homes to new tenants to help meet housing demand.

Lee Sugden, CEO adds , “The Regulator has identified that our financial plans are consistent with, and support, our financial strategy and we have the financial capacity to deal with a reasonable range of adverse scenarios. ”

“Our social purpose, to create more homes and services for the people of Salford continued to underpin the next stage in our ambitious corporate strategy.”

Salix Homes will be launching its new corporate plan, Our Future in the coming months.