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Karbon maintains the Regulator of Social Housing's top rating

Karbon maintains the Regulator of Social Housing's top rating

In line with publishing our six-monthly trading update, we’ve had the brilliant news from the Regulator of Social Housing that the Karbon Homes Group, of which 54North Homes is a part, has maintained its top governance (G1) and viability (V1) ratings. 

The G1/V1 status certifies that the regulator has confidence in how the Karbon Group is managed and that its fully assured that our financial plans support our financial strategy. 

Paul Fiddaman, Chief Executive of the Karbon Group, said: “It’s great to receive the news that we’ve retained our G1/V1 status from the regulator, complementing our half year trading update for 23/24 and further highlighting our strong position for the future. 

“We’ve remained committed to combining a sound business head with a strong social heart to ensure we continue to do right by our customers, colleagues and organisations, and are proud to have this commitment externally recognised.” 

The top rating covers both Karbon Homes and 54North Homes, a subsidiary of the Karbon Group that owns and manages 3,000 homes across Yorkshire. The rating marks what has been a successful first year of operation for 54North. 

Mark Pearson, Managing Director of 54North Homes, said: “We’ve had a positive first year as part of the Karbon Group. Alongside the warm welcome we’ve been provided with lots of practical support which has given us a great start. Many of the benefits we anticipated from the partnership have started to be realised, including strong viability and governance as this latest regulator rating shows.  

“We’re excited for next year as we continue to work together growing as an organisation and continuing to build on all that we do for our customers, colleagues and other stakeholders.” 

To maintain the top rating the regulator carried out an In-Depth Assessment (IDA), a detailed and thorough process that includes us submitting a range of documents and evidence, interviews with Group Board Chair and Chair of the Group Audit and Risk Committee, and an observation of a board meeting.    

Paul added: “Maintaining this top rating recognises the hard work and ongoing dedication of teams right across the group, who have remained committed to delivering our key strategic aims despite the difficult external environment we have found ourselves in. I am immensely proud of their determination and positive outlook.”