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LONDON - London & Quadrant Housing Trust (L&Q) has received a compliant rating from the Regulator of Social Housing (RSH) in its latest regulatory judgment published Wednesday.
The housing association maintained its V2 rating for financial viability and received a G2 for governance, downgraded from its previous G1 rating. L&Q also received a C2 grade in its first assessment under the new consumer standard.
The RSH confirmed that L&Q has effective systems in place to manage its building safety program, which aims to inspect over 2,000 buildings by April 2026. The regulator also acknowledged the organization’s approach to addressing damp and mould issues, including the installation of 19,000 humidity sensors in homes.
While the regulator recognized L&Q’s improvements in repairs service and complaint handling, it identified areas requiring further development, including the prioritization of damp and mould cases, addressing non-emergency repairs backlog, and strengthening the approach to aids and adaptations requests.
On governance, the regulator agreed that L&Q’s Group Board is appropriately skilled and that its governance arrangements effectively support strategic objectives. However, it noted that improvements are needed in Board reporting on service performance.
The V2 financial viability rating reflects the regulator’s assessment that L&Q has an adequately funded business plan and is forecast to meet its financial covenants, while managing material risks related to its development program and increased investment in existing homes.
Fiona Fletcher-Smith, Group Chief Executive of L&Q, said the organization welcomes the judgment and will "continue to put our residents at the heart of these improvements."
The regulatory judgment was based on a planned inspection by the Regulator of Social Housing.
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