Update on Magenta Living's Governance and Financial Rating
We're delighted to share that the Regulator of Social Housing has published its latest judgement on Magenta Living, and we've kept our top Governance rating of G1 and a strong financial rating of V2 for 2025.
What does this mean for you?
- G1 shows we're running Magenta responsibly and effectively - doing the right thing for our customers and communities.
- V2 means we're financially strong and stable, but we need to keep a close eye on risks as we grow. This is very common across the housing sector - around two-thirds of housing associations have a V2 rating.
Why does this matter?
These ratings mean we're in a great position to deliver on our big plans. Over the next few years, we'll invest £166 million to improve existing homes and provide 1,000 new ones. That's a huge commitment to making sure our customers have safe, warm, and affordable places to live. To make this happen, we'll keep making smart decisions and managing our money carefully - and that's exactly what we're doing.
What's next?
In 2026, the Regulator will carry out a formal inspection to assess how well we're delivering services to customers. This will be the first time we receive a Consumer Standards grade, known as a 'C' grade. Our goal is C1, the highest rating, because delivering excellent services is at the heart of everything we do.
Want to know more?
You can read the full Regulatory Judgement online here: https://www.gov.uk/government/publications/regulatory-judgement-magenta-living/magenta-living-l4435-regulatory-judgement-29-january-2025.
We'll keep sharing updates as we prepare for the next inspection and work towards delivering the highest standards for our customers. Thank you for being part of our journey - together, we're opening doors to homes full of love, communities full of life and a world full of possibilities.