Why we are engaging with Bridgewater Housing Association (Bridgewater)
We are engaging with Bridgewater about stock quality.
Bridgewater has identified reinforced autoclaved aerated concrete (RAAC) in some of its homes and is investigating whether any of its other homes and other buildings contain RAAC.
What Bridgewater must do
Bridgewater must:
- conclude its investigation into the extent of RAAC in its homes and other buildings as quickly as possible, and confirm the outcome to us;
- update us on how it is managing the risks associated with RAAC and its plans to complete any remedial work required; and
- tell us if there are any material adverse issues which might affect its capacity to manage the risks associated with RAAC.
What we will do
We will:
- review the information Bridgewater provides about RAAC in its homes and other buildings and engage as necessary; and
- update our published engagement plan in the light of any material change to our planned engagement with Bridgewater.
Regulatory Returns
Bridgewater 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.