Decision

Two Rivers Housing (L4385) - Regulatory Judgement: 24 June 2026

Updated 24 June 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	June 2026
Governance	G1 Our judgement is that the landlord meets our governance requirements.	Assessed and unchanged	June 2026
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	June 2026

Reason for publication

We are publishing a regulatory judgement for Two Rivers Housing (Two Rivers) following an inspection completed in June 2026.   

This regulatory judgement confirms a consumer grade of C1, a governance grade of G1 and a financial viability grade of V1.

Prior to this regulatory judgement, the governance and financial viability grades for Two Rivers were last updated in October 2025 following a stability check to confirm a G1 grade for governance and a V1 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 Two Rivers, our judgement is that overall Two Rivers is delivering the outcomes of the consumer standards. Based on this assessment, we have concluded a C1 grade for Two Rivers. 

Our judgement is that Two Rivers meets our governance requirements. Two Rivers 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 Two Rivers.

Our judgement is that Two Rivers meets our financial viability requirements and has the financial capacity to deal with a wide range of adverse scenarios. Two Rivers has a strong financial profile and its stress testing demonstrates that financial capacity is built into its business plan. Two Rivers has provided appropriate assurance that it has access to sufficient liquidity and adequate funding in place. Based on this assessment, we have concluded a V1 grade for Two Rivers.

How we reached our judgement

We carried out an inspection of Two Rivers 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 Tenants Voice meeting, spoke with tenants, held meetings with Two Rivers including its non-executive directors, interviewed staff, and reviewed a wide range of documents provided by Two Rivers. 

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

Summary of findings  

Consumer – C1 – June 2026

In relation to the Safety and Quality Standard, Two Rivers provided evidence-based assurance that it has appropriate systems in place to ensure the health and safety of its tenants in their homes and associated communal areas. We saw evidence that processes are in place to manage damp and mould effectively, and that Two Rivers investigates, identifies and repairs hazards within required timescales.

We saw evidence that Two Rivers keeps an accurate and up-to-date record of the condition of its homes through physical surveys and has a process for keeping this information up to date. Two Rivers uses its understanding of the quality and safety of its tenants’ homes to make decisions on the planning of future investments to maintain and improve its homes.

Two Rivers provides an effective, efficient and timely repairs and maintenance service and continues to implement actions to improve the service and outcomes for tenants. We saw evidence that gave us assurance that Two Rivers’ approach to repairs is informed by relevant information and the needs of its tenants, and that it is continuing to improve how it makes use of tenants’ information to tailor its services appropriately.

We gained assurance that Two Rivers is delivering the required outcomes in relation to the Neighbourhood and Community Standard. Following feedback from tenants, Two Rivers has made improvements in how it effectively manages anti-social behaviour, and it has demonstrated how it works with local partners to deter and tackle anti-social behaviour and hate incidents in the neighbourhoods where it provides social housing.

In relation to the Tenancy Standard, we saw evidence that Two Rivers works in partnership to meet identified local housing needs. Two Rivers reviews its lettings and allocations policy regularly to ensure all properties are let in a fair and transparent way. Two Rivers has demonstrated that it offers tenancies or terms of occupation that are compatible with the purpose of the accommodation, the needs of individual households, the sustainability of the community, and the efficient use of its housing stock. We saw evidence that Two Rivers supports its tenants to sustain their tenancies.

In relation to the Transparency, Influence and Accountability Standard, we gained assurance that Two Rivers is delivering the required outcomes. Two Rivers is taking steps to improve its understanding of its tenants, including increasing its understanding of vulnerable tenants. The board will need to ensure it has assurance that this continues to improve and is used effectively to understand how services could be adapted to ensure equitable support and access to individual tenants.

Two Rivers has demonstrated that it offers a range of meaningful opportunities for tenants to influence its strategies, policies and services. We gained assurance that tenants’ feedback and insight is used to improve service outcomes and influence decision making. Two Rivers provides accessible information to tenants about its services and is improving this through planned enhancements to its website.

We saw evidence that complaints are addressed fairly, promptly and effectively. We also saw evidence that performance information on complaints is regularly reviewed, and how Two Rivers has used this information to improve services.

Governance – G1 – June 2026

During the inspection Two Rivers demonstrated it has a robust internal control and assurance framework that supports effective risk management. Its board maintains effective oversight of the delivery of its strategy through a suite of performance measures with prompt action taken where performance falls below that expected. 

We saw evidence of stress testing against its main risks and combinations of risks, with appropriate challenge and scrutiny by its board. Detailed mitigations are in place, and further work on the impact of these mitigations is planned.

Two Rivers regularly reviews its service delivery through a programme of internal audits and periodic external governance reviews to improve services to its residents. The most recent external governance review was carried out in 2025, and Two Rivers is implementing its recommendations.

Board members’ skills, experience and knowledge are aligned with Two Rivers’ operations, and skills appraisals are carried out to manage its succession planning. We saw evidence of this through board observations, meetings with non-executive directors and the executive team, as well as reviewing relevant documents including board reports and minutes.

Two Rivers maintains clear roles, responsibilities and accountabilities within its leadership and governance structure. We have assurance that its board and committees work in line with its delegations and that the board periodically considers the adequacy of its governance structure.

Viability – V1 – June 2026

Based on evidence gained through the inspection, we have assurance that Two Rivers Housing meets the viability requirements of the Governance and Financial Viability Standard.

Two Rivers Housing has a strong financial profile, and its stress testing demonstrates that financial capacity is built into its business plan sufficient to withstand a wide range of adverse variances. Two Rivers has provided appropriate assurance that it has access to sufficient liquidity and that adequate funding is in place to deliver its plans.

Two Rivers’ latest business plan forecasts continued covenant compliance while providing for investment in its homes alongside its energy efficiency commitments.

Background to the judgement

About the landlord

According to the 2026 statistical data return Two Rivers Housing owns around 4,700 homes across South West England. It has delivered 885 new affordable homes since 2018 in line with its ambition of 1,000 new homes over ten years.

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