Hexagon is a housing association based in South East London. Hexagon was founded in 1990. They work closely with local authorities to ensure that they complement and help to deliver their strategic housing needs. Hexagon are regulated by the Regulator for Social Housing (RSH) which is a Government agency responsible for registering and monitoring. Hexagon own over 4,000 homes across seven London Boroughs and provide for a range of different needs: the majority of the properties (3,675) are for general needs tenants and are managed directly by Hexagon; they also provide nursing home accommodation in two homes for people who need nursing care; Hexagon employ 135 staff; They have a development programme in excess of 400 new homes over a four year period, utilising grant from the Government (the Greater London Authority or GLA) and a moderate Shared Ownership programme. Hexagon provide housing and care for people in the greatest need who cannot afford other ways of getting a home and have been nominated by their local Council housing. Hexagon are governed by a remunerated Board of 12 people which currently meets six times a year. There are also three sub-committees: Audit & Risk; Remuneration; and Performance Management.
RSH Narrative Regulatory Judgement
Provider: Hexagon Housing Association Limited
Regulatory code: L1538
Publication date: 25 August 2021
Governance grade: G1
Viability grade: V2
Reason for publication: Changed basis for viability grade
Regulatory route: In Depth Assessment
This regulatory judgement confirms our previous published assessment of Hexagon Housing Association Limited’s (Hexagon) financial viability and governance grades (G1/V2) following completion of an In Depth Assessment (IDA).
Based on evidence gained from the IDA, the regulator has assurance that Hexagon complies with the financial viability elements of the Governance and Financial Viability Standard. Its financial plans are consistent with, and support, its financial strategy, subject to a refinancing exercise that is expected to be completed later in 2021/22. It has sufficient security, and forecasts to continue meeting its financial covenants.
Hexagon continues to have limited headroom against funder covenants and its liquidity position is dependent on getting the refinancing in place. This lessens Hexagon’s ability to manage the financial risks associated with the delivery of its business plan. These risks include exposure to the housing market through sales and delivery of its committed development.
The regulator’s assessment of Hexagon’s compliance with the governance elements of the Governance and Financial Viability Standard remains unchanged. Based on the evidence gained from the IDA, the regulator has concluded that Hexagon’s governance arrangements enable it to adequately control the organisation and to continue meeting its objectives.
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Housing Ombudsman
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REPORT COMPLAINT 201914551 Hexagon Housing Association Limited 22 January 2021 Our approach The Housing Ombudsman’s approach to investigating and determining complaints is to decide what is fair in all the circumstances […]
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The complaint is about: The landlord’s response to the resident’s reports of disrepair to her property, in particular in relation to delays and the standard of repairs. The landlord’s complaint handling.
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The complaint is about the level of compensation offered in relation to the handling of the repair to the boiler and the related formal complaint.