Top regulatory judgement confirms Bernicia's sound governance and financial stability

Bernicia is delighted that the Regulator of Social Housing has once again confirmed top grades for its governance and financial viability.

This gives Bernicia the validation and confidence to release more capacity to deliver more social value.

The G1 V1 ratings are the highest ratings housing associations can achieve and follow an in-depth assessment by the regulator.

Retaining its top rating is official confirmation that Bernicia is well governed and financially resilient.

Bernicia was also asked by the regulator to be part of a pilot project for emerging consumer regulation and received positive feedback as part of that work.

John Johnston, Bernicia Chief Executive, said: “The regulator’s judgement provides external validation of the organisation’s strength and supports our recent decision to once again look to the future and deliver even more ambitious plans for new and existing homes and services.

“The G1 governance and V1 viability ratings are the highest achievable. They are an official endorsement that Bernicia is meeting the stringent standards set out to ensure housing associations are well run for the benefit of their tenants and communities.

“It’s a reflection of Bernicia’s informed and evidence-based decision making and the hard work of our Board, staff and involved tenants.

“I’m proud to lead such a dedicated team that continues to deliver. We are a strong organisation and despite these uncertain times we have taken the decision to look to release additional financial capacity to support our tenants, customers and the communities of the North East at a time when they arguably need us the most.”