News from the Regulator

On 25 October 2023 the Regulator of Social Housing published a viability regrade for the Trust.

The RSH said in its judgement that they are assured that the Trust:

‘continues to comply 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.

Peaks & Plains has an adequately funded business plan, sufficient security in place and is forecast to continue to meet its financial covenants under a reasonable range of scenarios.

Peaks & Plains is investing significantly in its existing stock and in developing new homes, and as a result, interest cover is reduced. Additional investment will also be required to ensure continued compliance with fire safety targets. These factors, set in the context of economic pressures including inflation and interest rates, impact on Peaks & Plains’ capacity to respond to adverse events.’