Why we are engaging with Maryhill Housing Association Ltd (Maryhill)
We are engaging with Maryhill about its stock quality and development plans.
In October 2018, Maryhill notified us about an issue with render failure on some of its homes. We are engaging with Maryhill to seek assurance about the long-term steps it is taking to address the render failure. Maryhill has put in place a range of control measures to address the risk to tenants and residents and it continues to seek a long term solution to address the issue.
In November 2024, Maryhill identified a cladding issue on some of its homes. Maryhill commissioned a detailed fire risk assessment and appraisal. Maryhill has since put in place a range of control measures to address the risk to tenants and residents and is addressing other recommendations in the fire risk assessment. Maryhill continues to seek a long-term solution to the cladding issue and is in the process of implementing cladding remediation plans.
Maryhill has plans to grow through a considerable programme of new homes for social rent and mid-market rent and will receive significant public subsidy to help achieve this.
What Maryhill must do
Maryhill must:
- update us on its progress and longer-term plans to address the render failure and cladding remediation issues;
- send us by 30 April 2025:
- 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 2025. 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 Maryhill’s progress and longer-term plans to address the render failure and cladding remediation issues and engage as necessary;
- review the business plan and supporting information;
- meet with Maryhill’s senior staff to discuss the business plan, 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 Maryhill.
Regulatory Returns
Maryhill must provide us with the following annual regulatory returns and alert 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.