Regulator for Social Housing announces G1, V2 rating for Sage Homes
The Regulator of Social Housing has announced a compliant G1 V2 rating for all three of Sage Homes’ Registered Providers following its first In-Depth Assessment earlier this year.
Alison Thain, Chair, Sage Homes, welcomed the announcement, saying: "We would like to thank the Regulator who has worked closely and collaboratively with us over an extended period to understand our business and the work that we are doing to deliver for our customers.
“Our G1 V2 rating underlines our position as an ambitious Registered Provider that is delivering large numbers of new homes for those that need them the most. This is reflected in Sage Homes being named the largest provider of newly built affordable homes in England for the third successive year. We are therefore extremely proud that the Regulator has recognised the commitment of our Boards, investors and our people to our long term strategy and vision.”
A G1 rating is the highest Governance rating set out by The Regulator of Social Housing in its Governance and Financial Viability Standard. Based on its In-Depth Assessment of all three of Sage Homes’ Registered Providers the Regulator is assured that Sage has governance arrangements in place that meet its requirements and that these arrangements enable Sage’s Board to control the organisation to meet its objectives.
A V2 rating demonstrates that the Regulator is confident that Sage Homes’ three RPs comply with the financial viability elements of its standard. This means Sage has an adequately funded business plan that supports its strategy and the Regulator is assured that Sage can maintain its financial viability without undue risk.