Why we are engaging with Langstane Housing Association Ltd (Langstane)
We are engaging with Langstane about its financial management and development plans.
Langstane has plans to grow through a programme of new homes for social rent and will receive significant public subsidy to achieve this. Langstane has told us it needs to obtain new private finance during 2026/27 to support its development plans.
What Langstane must do
Langstane must:
-
send us by 30 April 2026:
-
-
an update on the borrowing requirement for 2026/27;
-
-
-
its latest projected monthly cash flows for the 12 months to 31 March 2027;
-
-
-
its approved business plan;
-
-
-
its updated risk register, including details of its approach to development risk management and mitigation;
-
-
-
the report(s) to the Board/appropriate committee about the plan and approach to risk management and mitigation; and
-
-
-
evidence of how it demonstrates affordability for its tenants.
-
-
send us an update on its development programme by 31 October 2026. This will include its latest report to the governing body/appropriate committee about development and details of the scale and tenure mix, timescales for delivery and any material delays or changes to the programme; and
-
tell us if there are any material adverse changes to its development plans which might affect its financial position or reputation, in line with our notifiable events guidance.
What we will do
We will:
-
review the business plan, financial and supporting information;
-
meet with Langstane’s senior staff to discuss the business plan, financial and supporting information and any risks to the organisation;
-
review the development update and engage as necessary; and
-
update our published engagement plan in the light of any material change to our planned engagement with Langstane.
Regulatory Returns
Langstane must provide us with the following annual regulatory returns and alerts us to notifiable events as appropriate:
-
Annual Assurance Statement;
-
audited financial statements and external auditor’s management letter;
-
loan portfolio return;
-
five year financial projections; and
-
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.