Why we are engaging with Thenue Housing Association Ltd (Thenue)
We are engaging with Thenue about its governance.
In April 2025, Thenue’s senior officer left the organisation and it has had three interim senior officers since then. Thenue has now completed a recruitment exercise and has appointed a permanent senior officer who is expected to take up post in May 2026. Thenue has also experienced further change in the senior leadership team.
In September and October 2025, we received complaints about governance issues at Thenue. Thenue then notified us that 11 members of the governing body had resigned, leaving it with only four members. Thenue also received further complaints about governance issues.
Thenue took steps to appoint new governing body members to ensure it was meeting its constitutional requirements and it now has a governing body that complies with its constitution. Thenue progressed an independent investigation into the concerns that had been raised about its governance. Thenue is taking action to address the findings of the investigation.
Thenue has also decided to carry out an independent review of its compliance with the regulatory requirements including the Standards of Governance and Financial Management (the Standards). Thenue will take a phased approach to the review.
We will continue to engage with Thenue as it takes forward actions to address the findings of the investigation into the complaints about its governance and as it progresses its plans for an independent review of its compliance with the Standards. We will also engage with Thenue as it manages the changes within its governing body and senior leadership team and to seek assurance about its longer-term succession plans for the governing body.
Thenue is engaging openly and constructively with us.
What Thenue must do
Thenue must:
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send us the information we require about its continued compliance with the Standards;
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update us about how it is managing the changes within its governing body and senior leadership team and about its longer-term succession plans for the governing body;
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update us about how it is addressing the findings of the independent investigation into the concerns about governance;
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tell us about its plans to commission an independent review of its compliance with the Standards including the timescales for this and share the remit with us; and
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tell us when it has completed the independent review of its compliance with the Standards and share the outcome report(s) with us.
What we will do
We will:
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meet Thenue monthly to seek assurance about its continued compliance with the Standards;
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review the information Thenue provides about how it is managing the changes within its governing body and senior leadership team and about its longer-term succession plans for the governing body and engage as necessary;
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review the information Thenue provides about how it is addressing the findings of the independent investigation into the concerns about governance and engage as necessary;
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review Thenue’s plans to commission an independent review of its compliance with the Standards including the timescales and consider the remit for this and engage as necessary;
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review the outcome report(s) of the independent governance review 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 Thenue.
Regulatory Returns
Thenue 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.