Broadland Housing was set up in 1963 to provide affordable housing for the people of Norfolk and north Suffolk. Broadland is proud of its commitment to support and engage with tenants, helping them to develop their life opportunities. The organisation also has also won several national awards for high standards of sustainability. As one of the largest traditional housing associations in Norfolk and north Suffolk, Broadland provides more than 5,000 homes, ranging from modern apartments and family homes to sheltered housing and ‘housing with care’ schemes. The Group currently has an ambitious programme of 600 new homes in development. This includes social housing, shared ownership and open market sales. As well as Broadland Housing Association, the group comprises Broadland St Benedicts, Broadland Development Services and Broadland Meridian. Broadland St Benedicts was created in 2006. It develops market housing for Broadland Housing Association to help deliver the gap funding required for affordable rented and shared ownership housing locally, after Government grant funding was reduced. It balances new housing developments by offering a range of purchasing terms to local communities. Broadland Development Services operates as a procurement arm for both Broadland St Benedicts and Broadland Housing Association. It delivers services such as land acquisition, design, planning, construction and handover liaison of new homes. It works with external consultants to deliver the group’s Corporate Strategy, aims and objectives. Broadland Meridian is a grant-giving body, providing grants to local organisations that offer training and employment support services to disadvantaged individuals.
RSH Narrative Regulatory Judgement
Provider: Broadland Housing Association Limited
Regulatory code: L0026
Publication date: 27 October 2021
Governance grade: G1
Viability grade: V2
Reason for publication: Changed basis for viability grade
Regulatory route: In Depth Assessment
Broadland does have a number of material risks which it continues to need to manage to maintain compliance. A significant proportion of its revenue is derived from non-social housing activities, including homes for outright sale. This gives rise to downside risks, including exposure to the housing market. In addition, increased investment in its existing stock weakens interest cover and limits Broadland’s capacity to absorb a wide range of adverse events.
Housing Ombudsman