Why we are engaging with Dunbritton Housing Association Ltd (Dunbritton)
We are engaging with Dunbritton about its governance, financial management and development plans.
Following its AGM in September 2024 Dunbritton told us that its Chair had been in position for more than five years. We are engaging with Dunbritton to get assurance about its approach to succession planning and to ensure that it meets regulatory requirements.
Dunbritton has plans to grow through a programme of new homes for social rent and will receive significant public subsidy to help achieve this. It has told us that it needs to obtain private finance during 2025/26 to support its development plans.
What Dunbritton must do
Dunbritton must:
- send us by 30 April 2025:
- an update on the borrowing requirement for 2025/26;
- its latest projected monthly cash flows for the 12 months to 31 March 2026;
- 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 regular updates on its progress with the review of its succession planning policy;
- send us additional assurance that it meets regulatory requirements;
- 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 the cash flow projections and engage as necessary;
- review the business plan and supporting information;
- meet with Dunbritton’s senior staff to discuss its business plan, supporting information and any risks to the organisation;
- review the updates on succession planning and engage as necessary;
- review plans to ensure that it meets regulatory requirements and engage as necessary;
- 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 Dunbritton.
Regulatory Returns
Dunbritton 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.