MTVH stays compliant after cutting market sales activity, but risks remain

The G15 group’s “development expenditure combined with the required investment in existing stock impacts financial performance and reduces its capacity to respond to adverse events”, the judgement added. 

In December last year, MTVH sold its build-to-rent development arm to US real estate company Greystar for £400m. 

On governance, the regulator said it was assured that the group’s arrangements enable it to “adequately control” the organisation and to continue meeting its objectives.

Overall, the regulator said it has been assured that MTVH continues to comply with its standards and has an adequately funded business plan and sufficient security, and forecasts ongoing compliance with financial covenants.

Geeta Nanda, chief executive of MTVH, welcomed the judgement. “This demonstrates that we are in good shape, both financially and through our robust governance arrangements, to push forward with our commitment to improving the services we provide to residents and delivering the homes people need to live well,” she said. 

“The regulator’s rating is a strong indicator that we have a strong basis from which to carry on our improvements. It is also testament to the calibre and commitment of MTVH colleagues throughout the organisation, who come to work each day to make a difference for the people we serve.”

Elsewhere today, the regulator maintained the top grades of G1/V1 for four housing associations, following in-depth assessments. These are: Brighter Places, Local Space, Alliance Homes and Paradigm.