Torus62 Limited (5065) - Regulatory Judgement: 12 November 2025
Updated 12 November 2025
Applies to England
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Our Judgement
| Grade/Judgement | Change | Date of assessment | |
|---|---|---|---|
| Consumer | C2 Our judgement is that there are some weaknesses in the landlord delivering the outcomes of the consumer standards and improvement is needed. |
Based on previous assessment | May 2025 |
| Governance | G1 Our judgement is that the landlord meets our governance requirements. |
Assessed and unchanged | November 2025 |
| Viability | V1 Our judgement is that the landlord meets our viability requirements and has the financial capacity to deal with a wide range of adverse scenarios. |
Assessed and unchanged | November 2025 |
Reason for publication
We are publishing a regulatory judgement for Torus62 Limited (Torus) following a stability check completed in November 2025.
This regulatory judgement confirms a governance grade of G1 and a financial viability grade of V1. Torus has a consumer grade of C2 from a planned inspection completed in May 2025.
Summary of the decision
Based on the relevant information and evidence we reviewed in carrying out the stability check, our judgement is that Torus meets our viability requirements and has the financial capacity to deal with a wide range of adverse scenarios. We have therefore concluded the landlord’s grade is unchanged and issue a V1 grade for Torus.
From the stability check, there is no evidence to indicate a change in governance grade is required. Torus’ governance grade remains G1.
This regulatory judgement is based on a stability check which does not include a reassessment of Torus’ delivery of the outcomes of our consumer standards.
Prior to this regulatory judgement, Torus’ most recent consumer, governance and viability grades were C2, G1 and V1, which were issued in May 2025 following an inspection.
During the inspection, we considered all four of the consumer standards: the Neighbourhood and Community Standard, the Safety and Quality Standard, the Tenancy Standard, and the Transparency, Influence and Accountability Standard.
During the inspection we observed a board meeting and a tenants scrutiny committee, spoke with tenants, held meetings with Torus including with its non-executive directors, and reviewed a wide range of documents provided by Torus.
How we reached our judgement
We carried out a stability check of Torus as part of our annual stability check programme.
Our judgement about how well Torus is delivering the viability outcomes of our Governance and Financial Viability Standard is based on a review of a range of documents provided by Torus, as well as analysis of information supplied by Torus in its regulatory returns.
In confirming Torus’ governance grade as part of the stability check, our work was limited to verifying that the information contained in Torus’ regulatory returns did not appear inconsistent with its existing published governance grade.
Our stability checks do not assess a landlord’s delivery of the outcomes of our consumer standards.
Summary of findings
Consumer - C2 - May 2025
Below are the findings of our most recent regulatory judgement about Torus’ delivery of the outcomes of our consumer standards, which assessed Torus’ consumer grade as C2. The regulatory judgement was issued in May 2025 following a programmed inspection.
During the inspection, Torus provided evidence-based assurance that it understands the condition of its homes and that this informs its provision of good quality, well maintained and safe homes for tenants. This includes ensuring its homes meet the Decent Homes Standard.
Torus provided evidence-based assurance that it has appropriate systems and processes for ensuring the health and safety of its tenants in their homes and communal areas. However, during the inspection we identified some weaknesses in Torus’ oversight of health and safety compliance and noted that Torus had plans for further external assurance in this area.
In relation to the provision of an effective, efficient and timely repairs and maintenance service, there is evidence that Torus has been driving improvements over the past two years, however the inspection identified weaknesses in how Torus evidences that the required outcomes are being delivered for tenants. In particular there is more work to do to demonstrate that its approach and oversight are effective and that performance is underpinned by robust data.
Recent work by Torus to improve its complaint handling service has resulted in improved performance. Alongside an ongoing focus on quality and learning from complaints, we saw evidence that Torus addresses complaints fairly, effectively, and promptly.
The Neighbourhood and Community Standard states that landlords must work in partnership with appropriate local authority departments, the police and other relevant organisations to deter and tackle anti-social behaviour (ASB) and hate incidents in the neighbourhoods where they provide social housing. We saw evidence that Torus is working in partnership with appropriate partners to deter and tackle ASB and hate incidents in the neighbourhoods where it provides homes.
Torus’ allocations policy sets out its approach to ensuring all properties are let in a fair and transparent way. We saw evidence of Torus ensuring tenants are supported in sustaining their tenancies, including specialist officers and a support fund. Torus has a risk-based approach to tenancy audits, focusing on vulnerable tenants and potential tenancy fraud.
Torus demonstrated that it is delivering the required outcomes of the Transparency, Influence and Accountability Standard. Tenants have a wide range of opportunities to influence and scrutinise strategies, policies and services and we saw evidence that feedback from tenants has directly and positively impacted service delivery. Tenants can access services through a range of routes, and at times that suit them, and data held on customer vulnerabilities allows services to be tailored accordingly.
We saw evidence that Torus takes an active approach to considering tenants’ diverse needs in the design and delivery of services. Torus demonstrated that the tenant information it holds is used to support the delivery of fair and equitable services. Torus also provides tenants with accessible information about its performance and services.
We continue to actively engage with Torus to monitor its progress in improving its delivery of the outcomes of our consumer standards.
Governance - G1 - November 2025
From the stability check, there is no evidence to indicate that a change in governance grade is required.
Prior to this regulatory judgement, we issued a regulatory judgement in May 2025 following a programmed inspection of Torus. Below are findings of that judgement about Torus’ delivery of our governance requirements.
Based on evidence gained from the inspection we have assurance that Torus’ governance arrangements enable it to effectively manage its risks and adequately control the organisation, allowing it to continue to deliver its objectives.
Torus provided appropriate assurance that it has a risk management and control framework that aligns to its strategic risks. There is evidence of risks being managed effectively in practice. There is also evidence of board discussion and challenge on Torus’ performance against its strategic objectives, and board oversight of controls and assurance on its strategic risks.
Torus provided appropriate assurance that it has established and maintains clear roles, responsibilities and accountabilities within its leadership and governance structure. The relationship between its board and committees is working in line with its delegations to strengthen assurance is key areas of risk.
We saw evidence that the board is effectively managing and scrutinising its financial position, with appropriate oversight and approval of financial plans, strategies and policies. Board ownership of stress testing, mitigation strategies and wider governance over risks through regular and structured review of golden rules is evident.
Continuing governance improvement is evidenced through annual effectiveness reviews and in-depth periodic external governance reviews. The most recent external review took place in May 2024 and recommendations have informed an action plan which is being monitored by the Remuneration and Nominations Committee.
Board members’ skills and experience align to Torus’ activities and risk profile, with regular effectiveness reviews. Torus’ board actively seeks external assurance across a range of areas and there is evidence that this assurance has been used to make continuous improvement to its landlord services. The internal audit programme is aligned to its key risks and operations, providing independent assurance on the effectiveness of its risk management, governance and internal controls.
Viability - V1 - November 2025
Based on evidence gained from the stability check, we have assurance that Torus meets the viability requirements of the Governance and Financial Viability Standard.
Torus’ financial plans are consistent with, and support, its financial strategy. Torus has an adequately funded business plan, sufficient security in place and is forecast to continue to meet its financial covenants under a wide range of adverse scenarios.
Torus forecasts good levels of interest cover whilst continuing to deliver its development programme and invest in existing stock. Torus’ stress testing demonstrates that financial capacity is built into its business plan.
Background to the judgement
About the landlord
According to the 2025 statistical data return Torus owns 40,191 homes in Liverpool, St Helens and Warrington.
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.