Why we are engaging with Parkhead Housing Association Ltd (Parkhead)
We are engaging with Parkhead about its stock quality.
Parkhead last carried out an independent stock condition survey in 2015. Since then, it has carried out its own stock surveys on a small proportion of its homes each year, as well as a visual roof survey in 2016 and sandstone survey in 2017. Parkhead also commissioned an independent roof survey in 2020. We are engaging with Parkhead to seek assurance about its understanding of the condition of its homes and its approach to independently validating its stock survey information to support its asset management strategy and business plan.
Parkhead has requested a review of our regulatory decision to engage about its stock quality.
What Parkhead must do
Parkhead must send us the information we require in relation to its approach to asset management.
What we will do
We will:
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we will conclude the review of our regulatory decision to engage about Parkhead’s stock quality;
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review the information Parkhead provides about its approach to asset management; and
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update our published engagement plan in the light of any material change to our planned engagement with Parkhead.
Regulatory Returns
Parkhead 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.