Peterborough-based Cross Keys Homes achieves highest rating from regulator

The owner of Peterborough’s new landmark apartments complex Indigo has been awarded the highest possible rating from a national regulator.

Cross Keys Homes (CKH), which has just overseen the completion of the £70 million 315-apartment block in Northminster, has been praised by the Regulator of Social Housing following an inspection.

The social housing association, which has its head office in Shrewsbury Avenue, retained its top rating for governance and was also upgraded to V1 for financial viability and was awarded C1 for compliance with the consumer standards – the first time it has been assessed against this standard.

The inspection was carried out earlier this month and the regulator noted CKH’s ability to use its “understanding of the quality and safety of its tenants' homes to make decisions on future investment to maintain and improve homes, such as its approach in resolving cases of damp and mould.”

Residents’ satisfaction with CKH’s repairs and planned maintenance service was also highlighted by the regulator along with its ‘well-structured’ resident engagement approach, which has led to real change in services, such as its response to residents affected by anti-social behaviour.

The report stated that CKH’s robust approach to risk management and its board’s oversight and challenging approach gave the regulator confidence in the housing association’s ability to deliver its objectives as well as demonstrating value for money.

In addition, the regulator’s report noted that CKH “has evidenced that it has an adequately funded business plan, sufficient security in place to support its financial plans, and forecasts that it will continue to meet its financial covenants under a wide range of adverse scenarios.”

Claire Higgins, chief executive of the £90.5 million turnover CKH, which owns and manages 12,486 homes across 12 local authority areas and employs 313 full-time equivalent staff, said: “I am delighted.

"It is a real testament to the hard work of our whole staff team and board.

"We do not always get it right and when we don’t, we try to put things right as fast as we can.

"So, it’s even more rewarding that the regulator’s assessment highlights the ways in which we are getting it right for our residents whilst delivering the highest standards of corporate governance and financial viability.

"It also gives our investors and stakeholders the utmost confidence to continue to work with us to change even more lives and communities for the better in the future by continuing to deliver on our development ambitions to build even more affordable homes for those who need them.”