CML welcomes new regulatory framework for social housing

The Council of Mortgage Lenders welcomes today’s publication by the Tenant Services Authority (TSA) of its new regulatory framework for the social housing sector in England.

CML members have invested almost £60 billion in the sector for new build, regeneration, repair and improvement of social housing. The CML, on behalf of lenders to the sector, has worked closely with the TSA to strengthen regulation of the viability and governance of housing associations and so ensure confidence in lending. Confidence in the sector has been supported by robust finance regulation, and there has been an increase in lending in a difficult market. Implementation of the new regulatory framework and powers are key to continuing this effective approach.

Commenting on today’s TSA publication, CML senior policy adviser Karen Doran said:

“This new regulatory framework, and the regulator’s new powers set out in the Housing & Regeneration Act 2008, provide a solid foundation for future private investment in the social housing sector both through conventional bank lending and the capital markets. Looking ahead, strong and independent regulation is crucial to maintaining lender confidence against a backdrop of inevitable reduction in public expenditure and slow recovery from difficult market conditions.”