Decision

Greatwell Homes Limited (L4509) - Regulatory Judgement: 30 September 2026

Updated 30 September 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	September 2026
Governance	G1 Our judgement is that the landlord meets our governance requirements.	Assessed and unchanged	September 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	September 2026

Reason for publication

We are publishing a regulatory judgement for Greatwell Homes Limited (Greatwell) following an inspection completed in September 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 Greatwell were last updated in December 2025 following a stability check to confirm a G1 grade for governance and a V2 grade 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 Greatwell, we have concluded that overall Greatwell is delivering the outcomes of the consumer standards. Based on this assessment, we have concluded a C1 grade for Greatwell.

Our judgement is that Greatwell meets our governance requirements. Greatwell 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 Greatwell.

Our judgement is that Greatwell meets our financial viability requirements. Greatwell has sufficient liquidity, is forecast to maintain compliance with lender covenants and has the financial capacity to manage a reasonable range of adverse scenarios. However, increased investment in existing homes and higher major repairs expenditure result in weaker financial performance in the near term. These pressures reduce Greatwell’s capacity to respond to adverse events and require careful management by the board. Based on this assessment we have concluded a V2 grade for Greatwell.

How we reached our judgement

We carried out an inspection of Greatwell 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 a board meeting and a Customer Assembly meeting, spoke with tenants, held meetings with Greatwell, including its non-executive directors, interviewed staff, and reviewed a wide range of documents provided by Greatwell.

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

Summary of findings  

Consumer – C1 – September 2026

In relation to the Safety and Quality Standard, Greatwell provided evidence-based assurance that it has appropriate systems and controls in place for ensuring the health and safety of its tenants in their homes and associated communal areas.

Greatwell demonstrated that its systems accurately record its current position in relation to legal requirements for landlord health and safety, and that it has appropriate mechanisms to give its board assurance that controls are operating effectively. Greatwell evidenced that all actions arising from legally required health and safety assessments are carried out within appropriate timescales.

Greatwell evidenced that it keeps an accurate and up-to-date record of the condition of its homes, and that the high volume of information it holds on the condition of its homes is used to inform business planning. This is further supported by its asset information which has been independently validated. Greatwell has effective arrangements in place for identifying, monitoring and remedying hazards and is investing in the quality and safety of tenants’ homes through its planned maintenance and asset investment programmes. Greatwell has also demonstrated a proactive approach to managing damp and mould and has responded appropriately to the presence of radon gas where this has been an issue within some of its homes.

Greatwell provides an effective, efficient and timely repairs, maintenance and planned improvements service to its tenants. It uses performance information, customer feedback and complaints learning to monitor service delivery and identify opportunities for improvement. Tenant satisfaction with the repairs service and other performance information indicates that repairs are completed efficiently and within expected timescales. Greatwell demonstrated a clear focus on continuously improving the experience of its tenants in relation to repairs and uses tenant information to tailor its service and meet individual needs.

Greatwell evidenced that it meets the outcomes of the Transparency, Influence and Accountability Standard. Greatwell provides tenants with a wide range of opportunities to influence and scrutinise decision-making and has strengthened tenant influence through the formation of the Customer Assurance Committee. There is evidence that tenant feedback is actively considered and is used to influence policies, service delivery and operational improvements.

Greatwell provides accessible information to tenants about its services and performance and ensures that tenants are able to scrutinise outcomes. Greatwell provided evidence that it has effective arrangements in place for handling complaints to ensure they are addressed fairly, promptly and effectively. Greatwell demonstrated that it learns from complaints and appropriately uses this learning to improve its services.

We saw evidence that Greatwell treats its tenants with fairness and respect and effectively uses customer information, engagement and insight to support the delivery of fair and equitable outcomes for its tenants. It has arrangements in place to identify vulnerabilities, and we saw evidence that services are adapted to meet individual needs.

Greatwell is delivering the outcomes of the Neighbourhood and Community Standard. We saw evidence that Greatwell works with partner agencies and local organisations to tackle anti-social behaviour, hate incidents and domestic abuse. It takes a partnership-based approach to addressing such issues within its neighbourhoods and uses tenant information and feedback to inform decision-making and service improvements.

There is evidence that Greatwell is delivering the outcomes of the Tenancy Standard. It allocates its homes in a fair and transparent manner and has effective arrangements in place to support tenancy sustainment and minimise tenancy failure. Greatwell provided evidence that it takes a person-centred approach to support tenants and uses information and targeted interventions to identify tenants who may require additional support. Greatwell also demonstrated that it has controls in place to prevent and address tenancy fraud.

Governance – G1 – September 2026

Greatwell provided evidence to demonstrate the effectiveness of its governance arrangements and that it continues to effectively manage the risks associated with its activities, allowing it to deliver its strategic objectives. The board has the appropriate skills, experience and capacity to provide effective oversight and challenge, and has strengthened available expertise in key areas including development and treasury management.

The board has effective oversight of organisational performance and strategic delivery. It receives comprehensive information on operational and strategic performance and uses this to monitor delivery of corporate objectives. We saw evidence that the board actively reviews performance, value for money and delivery of strategic objectives and takes assurance from a range of internal and external sources.

Greatwell has an effective risk management and internal controls framework that is aligned with its strategic risks. The board understands the risks facing the organisation and has appropriate assurance arrangements in place to monitor and manage those risks. The landlord is embedding enhancements to its risk management framework, and we identified some areas where aspects of risk documentation and how controls are described could be strengthened further. These matters do not affect our assessment that governance arrangements are effective overall.

The board has demonstrated effective oversight of significant risks and projects including the development of an independent living scheme. It has established appropriate governance and reporting arrangements to oversee delivery and monitor emerging risks. Greatwell has a well-developed controls assurance framework supported by internal audits and independent external reviews.

Viability – V2 – September 2026

Based on the evidence gained through the inspection we have concluded that Greatwell’s financial plan remains consistent with a V2 assessment. Greatwell has sufficient liquidity and maintains adequate headroom against its funder covenant requirements throughout its business plan. Recent refinancing activity has strengthened its financial capacity and provides additional flexibility to support future strategic objectives which include an increase in its development plans from 2028.

Forecast financial performance is weaker in the near term due to plans to increase investment in existing homes and expected higher levels of major repairs and capital expenditure. As a result, forecast EBITDA MRI interest cover is lower in early years of the business plan before improving over the longer term. However, Greatwell is forecasting compliance with its lender covenants and is not dependent on disposals to maintain compliance.

The board has sought assurance that the business plan includes sufficient provision to maintain the quality and safety of homes while responding to future legislative and regulatory requirements. This includes provision for achieving efficiency targets and net zero carbon objectives.

Stress testing demonstrates that Greatwell has the capacity to withstand a reasonable range of adverse scenarios. The board has ownership of stress testing and mitigation planning and has considered the actions available to maintain financial resilience should adverse circumstances materialise.

Background to the judgement

About the landlord

Greatwell operates in the East Midlands and owns around 5,170 homes.

Greatwell is the only registered entity in the group and has no subsidiaries.

At 31 March 2026 Greatwell’s turnover was £35.2m and it employed 200 full-time equivalent staff.

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