We’re committed to providing high-quality services for all of our customers whilst doing our best to keep costs as low as possible.

Where our money comes from

For every £1 we generate:

• 71p is from social housing rents
• 14p is from shared ownership sales
• 5p is from the service charges
• 3p is from non-social housing rent
• 7p is from other sources

How each pound was spent

Housing management costs including staff

We spent 24p in each pound to provide services to our customers and to pay for staffing costs and overheads.

Surplus for reinvestment

20p in each pound will go towards delivering future improvements in our existing homes and building new homes in line with our business plan.

Property depreciation

14p in each pound accounted for the wear and tear of our assets, including the homes we own.

Interest and financing costs

We paid 13p in each pound to the bank as interest on our loans. 

Property maintenance

We spent 10p in each pound on repairs, servicing and maintenance, including work carried out as part of our improvement programme to deliver upgrades to your homes.

Service charge costs

We spent 5p in each pound on heating, lighting, cleaning and other costs recoverable through service charges. We regularly benchmark our service charges against the wider housing association sector, which shows that our service charges are lower than the sector average.

Construction costs

We spent 12p in each pound on building and selling properties for shared ownership.

Cost of delivering other services

We spent 2p in each pound on other costs including services to support people and community initiatives

Read our full financial statements for 2024/2025 here.