Our Regulatory Judgements are published by Welsh Government today and can be found on both the Welsh Government and FHA websites.
Our Co-Regulatory Status for ‘Governance & Service Delivery’ and ‘Financial Viability’ are both ‘Increased’. As an organisation that has been in Intervention / Special Measures for the past two years this represents a significant improvement. We have been working in close partnership with our key stakeholders: – tenants, staff, Lenders, the Regulator and Local Authorities to achieve the improvements that have been recognised with this judgement.
When advising us of our judgements, the Regulator has advised us that they recognise the journey we have been on the direction of travel and the relationship the Association has developed with them over recent years; it recognises; –
- the improvements we have made
- that we have moved from a difficult to a better position – acknowledging the work that remains to get FHA to where we all want it to be
- the confidence they have in our ability to continue the progress we have made
- the capacity we have to continue to improve
We are absolutely committed to continue the journey we have started – we are proud, ambitious and utterly determined. Our tenants and our staff remain at the heart of the work we have been progressing. The last few years have been incredibly challenging for them and us. We couldn’t have achieved what we have done without the support of all of them.
We have tremendous support from our Lenders, CHC and from Welsh Government. We are delighted that the Regulator has confirmed their commitment to ‘continue to walk with us on this journey’.