Two Rivers Housing (L4385) - Regulatory Judgement: 29 October 2025
Updated 29 October 2025
Applies to England
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Our Judgement
| Grade/Judgement | Change | Date of assessment | |
|---|---|---|---|
| Consumer | Not assessed yet | ||
| Governance | G1 Our judgement is that the landlord meets our governance requirements. |
Unchanged | October 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 | October 2025 |
Reason for publication
We are publishing a regulatory judgement for Two Rivers Housing (Two Rivers) following a stability check completed in October 2025.
This regulatory judgement confirms a governance grade of G1 and a financial viability grade of V1.
Summary of the decision
Based on the relevant information and evidence we reviewed in carrying out the stability check, our judgement is that Two Rivers 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 Two Rivers.
From the stability check, there is no evidence to indicate a change in governance grade is required. Two Rivers’ governance grade remains G1.
This regulatory judgement is based on a stability check which does not include an assessment of Two Rivers’ delivery of the outcomes of our consumer standards.
Prior to this regulatory judgement, the governance and financial viability grades for Two Rivers were last updated in December 2024 following a stability check to issue a governance grade of G1 and a financial viability grade of V1.
How we reached our judgement
We carried out a stability check of Two Rivers as part of our annual stability check programme.
Our judgement about how well Two Rivers is delivering the viability outcomes of our Governance and Financial Viability Standard is based on a review of a range of documents provided by Two Rivers, as well as analysis of information supplied by Two Rivers in its regulatory returns.
In confirming Two Rivers’ governance grade as part of the stability check, our work was limited to verifying that the information contained in Two Rivers’ 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
Governance – G1 – October 2025
From the stability check, there is no evidence to indicate that a change in governance grade is required.
Viability – V1 – October 2025
Based on evidence gained from the stability check, we have assurance that Two Rivers meets the viability requirements of the Governance and Financial Viability Standard.
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.
Two Rivers’ latest business plan forecasts continued covenant compliance while providing for decarbonisation commitments.
Background to the judgement
About the landlord
According to the 2025 statistical data return Two Rivers owns around 4,600 homes across South West England.
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 new 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