London landlord being investigated over possible non-compliance

The group’s last published accounts, covering the year to the end of March 2022, showed it fell to a deficit of £21.3m after incurring refinancing costs of £23.6m. On an operating basis, its surplus was £13.1m.

A year ago, rating agency Fitch affirmed the landlord’s issue default rating at A- with a stable outlook, as it said Origin had experienced a “gradual recovery” from “significant exposure to fire safety costs”.

Carol Carter, Origin’s chief executive, said: “Origin is committed to working in partnership with the regulator to provide the assurance they require to confirm that we remain compliant with the governance and viability regulatory standards.

“During this process we remain focused on our social purpose, with our residents and local communities at the heart of our priorities.”

In 2019, Origin was downgraded to a G2 for governance after the regulator said it had provided “consistently inaccurate” data returns. However, the group later regained its G1 status. 

Origin joins another London landlord, 39,000-home A2Dominion, on the regulator’s gradings under review list. Buckinghamshire-based Rosewood Housing is also currently on the list.

In its current form, Origin was established in 2010 through the merger of Origin Group, SPH Housing and Griffin Homes. The group dates back to 1924, when it was known as the St Pancras House Improvement Society.