Why we are engaging with Bridgewater Housing Association Ltd (Bridgewater)
We are engaging with Bridgewater about stock quality.
Bridgewater has identified reinforced autoclaved aerated concrete (RAAC) affecting 142 of its homes, and it has told us it has managed any associated risks. We are seeking assurance that Bridgewater has a long-term strategy in place to manage the RAAC.
What Bridgewater must do
Bridgewater must tell us its long-term strategy to manage the RAAC affecting its homes.
What we will do
We will:
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review the information Bridgewater shares with us about its long-term strategy to manage the RAAC affecting its homes and engage as necessary; and
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update our published engagement plan in the light of any material change to our planned engagement with Bridgewater.
Regulatory Returns
Bridgewater must provide us with the following annual regulatory returns and alerts us to notifiable events as appropriate:
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Annual Assurance Statement;
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audited financial statements and external auditor’s management letter;
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loan portfolio return;
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five year financial projections; and
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Annual Return on the Charter.
It should also notify us of any material changes to its Annual Assurance Statement, and any tenant and resident safety matter which has been reported to or is being investigated by the Health and Safety Executive or reports from regulatory or statutory authorities or insurance providers, relating to safety concerns.