London landlord being investigated over possible governance issues
A small London-based landlord is being investigated over its compliance with the English regulator’s governance standard.
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East End Homes, which operates around 3,800 homes, has been placed on the Regulator of Social Housing’s (RSH) gradings under review list.
The regulator said it is “currently investigating matters which may impact on East End Homes’s compliance with the governance element of the Governance and Financial Viability Standard”.
The Tower Hamlets-based landlord currently has a G1/V2 rating.
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In its last full year to the end of March 2022, East End Homes posted a pre-tax deficit of £1.1m, partly due to £2.3m of refinancing costs.
John Henderson, managing director at East End Homes, said: “Even though this is disappointing for us, we understand that the regulator has a duty to investigate and East End Homes will be working closely with them through this investigation to provide the assurance required.
“We are also communicating with internal and external stakeholders to allay any worries they may have about our partnerships.”
East End Homes became a registered provider in 2005 after a phased stock transfer from Tower Hamlets Council.
The regulator said the outcome of its investigation will be confirmed in a regulatory judgement.
East End Homes joins five other registered providers currently on the RSH’s gradings under review list. They are: Auxesia Homes, Highstone Housing Association, Heylo, RCVDA Community Housing and Christian Action (Enfield) Housing Association.
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