Why we are engaging with Waverley Housing (Waverley)
We are engaging with Waverley about its financial management.
Waverley has told us it needs to obtain new private finance during 2022/23.
What Waverley must do
Waverley must send us by 30 April 2022:
- an update on the borrowing requirement for 2022/23; and
- its latest projected monthly cash flows for the 12 months to 31 March 2023.
What we will do
We will:
- review the cash flow projections and liaise as necessary; and
- update our published engagement plan in light of any material change to our planned engagement with Waverley.
Regulatory returns
Waverley 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.