Regulatory Update

Here's an update on our regulatory position, recognising progress made since launch while setting out the further improvements underway as we continue building a strong and stable organisation.

The Regulator of Social Housing has given Portus Supported Housing an interim grading of G3 (Governance) and V3 (Viability).

This means we need to make further improvements in how we are governed and how we manage our finances.

This judgement was expected at this stage and we see it as part of our plan to become a strong, mature organisation. The grading reflects a period of change, following the merger of Bespoke Supportive Tenancies (BeST) and Westmoreland Supported Housing last December. It does recognise that progress has been made, including strengthening governance and leadership, but also that more work is required.

Since launch, we have also established Portus Property Management to bring repairs and maintenance services in-house. This is helping to improve the quality of services for customers.

This is an interim judgement based on information provided so far. A permanent grading is expected later this year and we are optimistic that we will be able to demonstrate further progress and improve our grading.

We recognise that further work is required, particularly in strengthening assurance around financial resilience and rent compliance. This forms part of a structured improvement programme, while working closely with the Regulator, to deliver safe, stable homes where people can live confidently and independently.

We will continue to keep you updated.