Welcome to the latest edition of our Insolvency Bulletin. In this edition, we focus on Registered Providers (RPs) of social housing.
With a chronic housing shortage and enduring societal and demographic change, the subject of affordable housing is higher up the political agenda than ever before. Trowers & Hamlins has over 50 years of experience in the affordable housing sector, including long standing relationships with local authorities, housing associations across the UK and the Regulator of Social Housing. In our work Trowers is a strategic partner to major players and new entrants to the sector and has vast experience in bringing public and private finance together.
Our experience includes working on the groundbreaking Meridian Water development, the restructuring of Peabody – one of the UK’s most iconic housing associations as well as significant housing and regeneration projects including those at Newcastle’s Byker Estate, London’s Barking Riverside, Plymouth’s North Prospect and Hyde Group's acquisition and redevelopment of 14 acres at Charlton Riverside.
In this edition of the bulletin, we draw on the firm's deep understanding of the evolving regulatory and policy environment to consider distress in the sector, as well as topical issues for RPs.
Rob Beiley outlines the role of the Social Housing Regulator, while Navinder Grover discusses another key stakeholder - the lender. Nicholas Levy outlines the special administration regime that relates to RPs.
Commenting on wider issues in the sector, Nez Zein considers how the government might assist RPs to help deliver its ambitious plans for 1.5 million new homes in the next 5 years, and Rubianka Winspear and Diana Lupa set out how RPs might access funding made available to help social landlords undertake retrofit energy efficiency works. Keith Cornell looks at incentives and whether RPs can offer these to attract buyers.
If you have any suggestions or requests for future editions of the Trowers Insolvency Bulletin, please get in touch with one of the team.
Click the links below to view our latest insights and news:
The role of the Regulator of Social Housing
In this article Rob Beiley outlines the role of the Social Housing Regulator.
Registered Provider Insolvency – lender considerations
Navinder Grover discusses another key stakeholder - the lender - in this second article.
Safe as Houses? Insolvency in the social housing sector
In this article, we explain the background and operation to a special administration regime that relates to registered providers of social housing (RPs).
Over the horizon – funding affordable homes
The government has made its intention clear - build 1.5 million homes in the next five years. As many commentators have observed, this is the most ambitious house building target for decades and we eagerly await more details in the Autumn Statement on how this will be achieved.
How to prepare for SHDF Wave 3
In May this year, the Department of Energy Security and Net Zero (DESNZ) announced Wave 3 of the Social Housing Decarbonisation Fund (SHDF) - with available funding of up to £1.25 billion to help social landlords undertake retrofit energy efficiency works.
The official launch is expected imminently and should include the publication of the final guidance documents, timelines and draft contracts.
Registered Providers – to incentivise or not?
Given the market pressures of recent years, it is no surprise that developers of new homes are always looking at ways to attract buyers and to get sales across the line as quickly as possible. Obviously, every seller hopes their developments 'sell themselves', but incentives can be an effective tool to attract cash conscious buyers or to speed up sales.
