Together Housing was formed on April 1, 2011, Together Housing Group manages over 38,000 properties, providing a comprehensive range of support services which affect over 40,000 people’s lives over a huge geographical area in the North of England. Employing more 1,145 staff, Together Housing Group’s corporate vision is to offer consistently brilliant services, put social impact at the heart of everything and be a great place to work. Members of the Group include Together Housing Association, Together Homes, Together Energy and Newground. We also manage the Pendleton Together PFI Project.
RSH Narrative Regulatory Judgement
Provider: Together Housing Group Limited
Regulatory code: L4464
Publication date: 15 November 2022
Governance grade: G1
Viability grade: V2
Reason for publication: Viability regrade
Regulatory route: Stability Check and Reactive Engagement
Regulatory judgement
This regulatory judgement regrades Together Housing Group Limited’s financial viability from V1 to V2 and confirms its existing G1 grade for governance.
Based on evidence gained from a Stability Check and Reactive Engagement, the regulator has assurance that Together Housing Group Limited (THGL) complies with the financial viability elements of the Governance and Financial Viability Standard and that its financial plans are consistent with, and support, its financial strategy. THGL has an adequately funded business plan with sufficient security in place.
THGL is making additional investment in existing homes to complete fire safety works and improve energy efficiency while continuing to develop new homes. Delivering this weakens its financial performance and, coupled with the current economic uncertainty in relation to inflation and interest rates, reduces THGL’s capacity to respond to adverse events.
The regulator’s assessment of THGL’s compliance with the governance elements of the Governance and Financial Viability Standard remains unchanged. On the basis of the Stability Check, the regulator has concluded that there is no evidence to indicate a change to THGL’s current governance grading.
Other providers included in the judgement
Together Housing Association Limited
About the provider
Origins
THGL is a charitable community benefit society that owns and manages 36,800 homes. THGL’s principal activities are the development and management of social housing.
Registered Entities
THGL is a registered entity and parent of a group that includes one other registered entity, Together Housing Association Limited.
Unregistered Entities
THGL has ten subsidiaries and eleven joint ventures. It also has six dormant subsidiaries.
THGL’s unregistered entities include:
Synergy Housing Solutions Limited, used to provide development services to the group.
Newground Together, used as a charity delivering social and environmental programmes and its subsidiary Newground CIC, providing consultancy and advisory services.
Pendleton Together Operating Limited and Pendleton Together Holdings Limited, used to maintain 1,250 properties in Salford through a Private Finance Initiative scheme.
Together Roof Energy Limited and Together Roof Energy SPV Limited, used to install solar panels and implement alternative energy efficiency programmes.
Together Housing Finance plc, used to issue an own named bond.
Together Commercial Limited, used to invest in a number of joint ventures.
SP Plus (Development) Limited, used to deliver development opportunities in Salford alongside Salford City Council.
THGL’s joint ventures are principally used to develop homes across a range of tenures.
Geographic Spread and Scale
THGL operates across a large geographical area in the North of England and the East Midlands.
Staffing and Turnover
THGL employs 1,448 full-time equivalent staff. Its turnover for the year ended 31 March 2022 was £190.2m.
Development
THGL intends to develop 1,861 homes between 2023 and 2025, 70% of this development is to be partially funded by government grant.
Housing Ombudsman
Together Housing Association Limited (202006550)
The complaint concerns: The landlord’s handling of refurbishment work at the resident’s property in 2016 and his claims for damaged goods that resulted from this. Outstanding repairs to the bathroom extractor fan and living room/bedroom window opening system in the resident’s property. The landlord’s handling of the resident’s reports of discrimination by its staff. The landlord’s handling of the kitchen ceiling leak from the property above the