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In his speech at the annual National Housing Federation (NHF) conference, Chief Executive Peter Marsh explained how better regulation of housing associations has attracted investors and maintained the confidence of both existing and new lenders, meaning more favourable interest rates.
Mr Marsh said: "The TSA's existence has given confidence to lenders and investors by ensuring the financial stability of the sector and its ability to manage emerging risks. In plain terms, the housing sector might have paid £100 million in extra interest on the £7 billion of new finance raised by housing providers in the last 12 months. With banks having lent £35 billion to the sector, this works out as a £500 million a year saving.
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"As well as safeguarding tenants' homes, regulation has a value on the bottom line too."
Mr Marsh also used his keynote speech to:
- Set the scene for a new world of co-regulation, which will place tenants at its core and allow providers to help the regulator design some of the rules. Providers will be expected to set out how they will meet the outcomes they are looking for, what targets they choose agree with their tenants and how they validate and benchmark their performance.
- Put poor performers on notice that the TSA is prioritising its efforts on identifying and tackling the worst landlords.
- Unveil plans to set up a new advisory group to explore the role of mutual, shared and co-ownership housing. The group will include leading housing experts Jim Coulter, Kate Barker and David Orr who will look at a range of key issues including why there is a lack of appetite for shared owners to increase the share of their home.
