Decision

Aster Group Limited (L4393) - Regulatory Judgement: 8 July 2026

Updated 8 July 2026

Applies to England

Our Judgement

	Grade/Judgement	Change	Date of assessment
Consumer	C1 Our judgement is that overall the landlord is delivering the outcomes of the consumer standards. The landlord has demonstrated that it identifies when issues occur and puts plans in place to remedy and minimise recurrence.	First grading	July 2026
Governance	G1 Our judgement is that the landlord meets our governance requirements.	Assessed and unchanged	July 2026
Viability	V2 Our judgement is that the landlord meets our viability requirements. It has the financial capacity to deal with a reasonable range of adverse scenarios but needs to manage material risks to ensure continued compliance.	Assessed and unchanged	July 2026

Reason for publication

We are publishing a regulatory judgement for Aster Group Limited (Aster) following an inspection completed in July 2026.

This regulatory judgement confirms a consumer grade of C1, a governance grade of G1 and a financial viability grade of V2.

Prior to this regulatory judgement, the governance and financial viability grades for Aster were last updated in December 2025 following a stability check and responsive engagement to confirm a G1 grade for governance and a V2 regrade for financial viability. This is the first time we have issued a consumer grade in relation to this landlord.

Summary of the decision

From the assurance gained during the inspection, based on the evidence provided by Aster, our judgement is that overall Aster is delivering the outcomes of the consumer standards. Based on this assessment, we have concluded a C1 grade for Aster. 

Our judgement is that Aster meets our governance requirements. Aster has provided evidence to demonstrate the effectiveness of its governance arrangements and that it continues to effectively manage the risks of its activities, allowing it to deliver its strategic and charitable objectives. Based on this assessment, we have concluded a G1 grade for Aster.

Our judgement is that Aster meets our financial viability requirements. It has adequate covenant headroom and access to sufficient liquidity, with the financial capacity to manage a reasonable range of adverse scenarios. However, Aster has a number of financial risks that it needs to manage, including significant investment in existing homes, while continuing to develop new homes, and an increased disposals programme. Aster therefore has reduced capacity to respond to adverse events. Based on this assessment, we have concluded a V2 grade for Aster.

How we reached our judgement

We carried out an inspection of Aster to assess how well it is delivering the outcomes of the consumer standards and meeting our governance and financial viability requirements, as part of our planned regulatory inspection programme. During the inspection, we considered all four of the consumer standards: Neighbourhood and Community Standard, Safety and Quality Standard, Tenancy Standard, and the Transparency, Influence and Accountability Standard.

During the inspection we observed board and committee meetings, including the Customer Voice Committee, the Customer Scrutiny Panel and the Group Risk and Assurance Committee. We spoke with tenants, held meetings with Aster including its non-executive directors, interviewed staff, and reviewed a wide range of documents provided by Aster.

Our regulatory judgement is based on a review of all of the relevant information we obtained during the inspection as well as analysis of information supplied by Aster in its regulatory returns and other regulatory engagement activity.

Summary of findings  

Consumer – C1 – July 2026

In relation to the Safety and Quality Standard, Aster provided evidence-based assurance that it has appropriate systems in place to ensure the health and safety of tenants in their homes and communal areas and is meeting landlord health and safety requirements.

There is evidence that Aster has accurate records of the condition of its homes at an individual property level through physical surveys, and that it has a process in place for keeping this information up to date. Aster uses the information on the quality and safety of its homes to inform decisions on future investment to maintain and improve its homes. 

Aster provides an effective, efficient and timely repairs and maintenance service and continues to implement actions to improve the service and outcomes for tenants. Aster has a repairs transformation plan in place to drive further improvements, focused on reducing the volume of reactive repairs and improving communication with tenants.

We gained assurance that Aster is delivering the required outcomes in relation to the Neighbourhood and Community Standard. Aster works with relevant organisations to deter and tackle anti-social behaviour and hate incidents in the communities where it provides homes. Aster has improved the way in which anti-social behaviour can be reported in response to tenant feedback.

In relation to the Tenancy Standard, Aster provided evidence that its approach to lettings and allocations is fair and transparent, and that it offers a range of tenures that are appropriate to the homes it lets and meet the needs of tenants. We saw evidence that tenants are supported to sustain their tenancies through a variety of means including a programme of tenancy checks, a proactive approach to arrears management and access to financial support.

Aster is delivering the outcomes of the Transparency, Influence and Accountability Standard. Through the inspection we saw that Aster treats tenants with fairness and respect, and that it uses the information it holds about its tenants to deliver services that meet their needs. Aster is taking action to further improve the information it holds on the profile of its tenants in order to ensure it is delivering fair and equitable outcomes for tenants.

Aster demonstrated that its tenant engagement and scrutiny arrangements provide a wide range of meaningful opportunities for tenants to influence and scrutinise its strategies, policies and services. This includes structured engagement routes such as the customer scrutiny panel, a designated complaints panel and policy review group, alongside broader engagement through digital channels, surveys and focus groups. We gained assurance that tenant feedback and insight is used to improve service outcomes and influence decision making, for example in relation to its repairs transformation programme and communication channels. Aster provides accessible information to its tenants on its performance and service standards to support effective scrutiny. Aster regularly reviews its approach to tenant engagement to improve effectiveness and accessibility.

We saw evidence that complaints are addressed fairly, promptly and effectively. We also gained assurance that Aster actively seeks to learn from complaints and uses this information to improve its services.

Governance – G1 – July 2026

Based on evidence gained from the inspection, we have assurance that Aster’s governance arrangements enable it to effectively manage its risks and adequately control the organisation, enabling it to deliver its strategic and charitable objectives.

We saw evidence that Aster’s board monitors and challenges performance against strategic targets and considers its risk appetite when making decisions. The board has robust oversight through a suite of metrics, aligned to its strategic priorities and key risks, and supported by third-line assurance through internal audit and relevant external reviews. We have seen evidence that the board uses performance information to address areas of underperformance, while also driving value for money and improving customer satisfaction.

Through our inspection we have seen evidence that the board and the executive team demonstrate the skills, knowledge and behaviours required for effective oversight and strategic leadership. There is a structured approach to reviewing, developing and appraising skills which informs succession planning.

Aster maintains clear roles, responsibilities and accountabilities within its leadership and governance structure. Board and committees work in line with its delegations, with structured oversight of strategic delivery, financial performance and value for money. Board periodically considers the adequacy of its governance structure, through governance effectiveness reviews and in-depth external governance reviews. The most recent external governance review was carried out in 2025.

Aster’s risk management and control framework is aligned to its strategic priorities and provides clear board oversight of the risks facing the organisation and the controls in place to manage them. We have assurance that risks are being managed effectively, including in relation to development and sales, repairs and landlord health and safety.

Aster demonstrates robust financial governance. Stress testing is comprehensive with clearly defined mitigations. Board reporting provides sufficient detail for the board to ensure effective oversight of financial and commercial risks.

We gained assurance that Aster proactively reviews its approach to delivering against its purpose and regularly considers alternative methods of delivering its strategic objectives. There is a structured approach to considering value in Aster’s decision making. Aster’s focus on investment in existing homes and delivery of effective landlord services that meet the needs of its tenants is balanced against a continued programme of building new homes.

Viability – V2 – July 2026

Based on the evidence gained through the inspection we have concluded that there is appropriate assurance that Aster’s financial plans are consistent with, and support, its financial strategy. Aster’s business plan is adequately funded with sufficient security in place to support its financial plans and it is forecast to continue to meet its financial covenants under a reasonable range of scenarios.

Aster does, however, face material exposures. Aster is increasing its investment in existing homes while continuing to develop new homes. Aster is also increasingly reliant on income from the disposal of homes to ensure covenant compliance. These factors weaken financial performance when set in the context of economic pressures, and reduce the capacity within Aster’s business plan and its ability to respond to further adverse events. We have assurance that Aster has reporting and oversight in place. However, it will need to manage these material risks.

Background to the judgement

About the landlord

According to the 2025 statistical data return Aster owns 35,803 social homes in the south of England.

At 31 March 2025, Aster’s turnover was £329.9m and it employed 1,805 FTE.

Aster’s development programme aims to deliver 6,034 homes across the next 8 years totalling £1.446bn.

Our role and regulatory approach

We regulate for a viable, efficient, and well governed social housing sector able to deliver quality homes and services for current and future tenants.  

We regulate at the landlord level to drive improvement in how landlords operate. By landlord we mean a registered provider of social housing. These can either be local authorities, or private registered providers (other organisations registered with us such as non-profit housing associations, co-operatives, or profit-making organisations). 

We set standards which state outcomes that landlords must deliver. The outcomes of our standards include both the required outcomes and specific expectations we set. Where we find there are significant failures in landlords which we consider to be material to the landlord’s delivery of those outcomes, we hold them to account. Ultimately this provides protection for tenants’ homes and services and achieves better outcomes for current and future tenants. It also contributes to a sustainable sector which can attract strong investment. 

We have a different role for regulating local authorities than for other landlords. This is because we have a narrower role for local authorities and the Governance and Financial Viability Standard, and Value for Money Standard do not apply. Further detail on which standards apply to different landlords can be found on our standards page. 

We assess the performance of landlords through inspections and by reviewing data that landlords are required to submit to us. In Depth Assessments (IDAs) were one of our previous assessment processes, which are now replaced by our inspections programme from 1 April 2024. We also respond where there is an issue or a potential issue that may be material to a landlord’s delivery of the outcomes of our standards. We publish regulatory judgements that describe our view of landlords’ performance with our standards. We also publish grades for landlords with more than 1,000 social housing homes. 

The Housing Ombudsman deals with individual complaints. When individual complaints are referred to us, we investigate if we consider that the issue may be material to a landlord’s delivery of the outcomes of our standards.  

For more information about our approach to regulation, please see Regulating the Standards.

Further information

• Regulating the standards
• Regulatory standards for landlords

Related documents

• Decent Homes Standard