As a not-for-profit housing association, every penny we make goes back into providing excellent homes and services. We’re committed to maintaining a strong financial position so that we can continue to deliver value for money for our customers.
Where our money comes from
For every £1 we generate:
How each pound was spent
Housing management costs including staff
We spent 34p in each pound to provide services to our customers and to pay for staffing costs and overheads.
We spent 8p in each pound on repairs, servicing and maintenance, including work carried out as part of our improvement programme to deliver upgrades to your homes.
We spent 13p in each pound on building and selling properties for shared ownership.
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.
Cost of delivering other services
We spent 1p in each pound on other costs including services to support people and community initiatives.
16p in each pound accounted for the wear and tear of our assets, including the homes we own.
Interest and financing costs
We paid 15p in each pound to the bank as interest on our loans.
Surplus for reinvestment
8p in each pound will go towards delivering future improvements in our existing homes and building new homes in line with our business plan.