A LEADING North-East housing association has vowed to press on with an ambitious programme of investment after being given the highest ratings by Government regulators.

North Star was subjected to a wide-ranging examination by the Regulator of Social Housing in December and January, and top judgements for governance and financial viability have now been confirmed.

Housing associations are required to take part in an In-Depth Assessment (IDA) every four years to demonstrate they are meeting strict regulatory standards.

The regulator assesses the financial strength of associations, along with their approach to value for money, governance, strategic delivery and risk management.

North Star’s Chief Executive, Angela Lockwood, welcomed the results, saying: “We are pleased to have retained the top regulatory judgements after a rigorous In-Depth Assessment by the Regulator of Social Housing.

“Our top judgements for governance and viability are testament to the strength of North Star and its operations. The outcome validates our current position and provides a platform to deliver our exciting three-year strategy to provide high quality services, build new homes, invest in existing homes, and work with the strengths of communities.

“Continuing to achieve and deliver on changing regulatory standards will be a constant focus and guide on our three-year journey and beyond.”

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Over the next three years, the strategy will see North Star deliver at least 225 new homes by investing £36.6m, while spending £30.4m on improving 2,100 existing homes.

North Star is a not-for-profit housing association that aims to generate a financial surplus so it can invest in new housing schemes and develop existing housing, while supporting communities and individuals across the North-East.

The organisation manages a stock of around 4,000 houses. It also has five women’s refuges, schemes for people with learning difficulties and mental health issues, drug and alcohol rehabilitation initiatives, support for homeless people, young people’s accommodation, and a project for women with complex needs.