Goodbye Libor, Hello Sonia

The publication of the London Inter Bank Offered Rate (Libor) will end by 31 December 2021. This will have major implications for housing association loan books throughout the UK. This note summarises those implications and looks at what actions housing associations need to take in preparation for the change. Download the ATFS full briefing for…

Don’t Be Caught out by the Dissolution of Libor

With Sonia set to replace Libor, Joseph Carr warns of major implications for housing association loan books throughout the UK. Over $350tn in corporate loans, derivatives, bonds, deposits and mortgages is tied to the London Inter-bank Offered Rate (Libor). Housing associations in England alone have a loan book of circa £92bn, and the interest on approximately 63…

Altair & Devonshires Seminar – 4th July

Governance : Codes, Conduct and Responsibilities  04 Jul 18 |  9:30 am – 1:00 pm |  Devonshires Solicitors LLP, 30 Finsbury Circus, London, EC2M 7DT.   The fallout from Carillion in the construction sector and First Priority Housing in the RP sector will once again cast a significant spotlight on governance and the role of boards, executives…

Base Rate Holds

The MPC voted to hold its benchmark rate at 0.5% per annum on 10 May 2018. The vote was 7-2 with Michael Saunders and Ian McCafferty backing a 0.25% per annum hike.  There was a unanimous decision to keep the asset purchase target at 435 billion pounds and to leave plans to buy as much…

Housing Target Within Reach

The Scottish Government’s 50,000 affordable housing target is within reach by the end of this parliament, an independent report has concluded. The report commissioned by Shelter Scotland, the Scottish Federation of Housing Associations (SFHA) and the Equality and Human Rights Commission in Scotland, examined the 32 Scottish councils’ housing plans and revealed that 49,773 affordable…

CPI at 3%

The Bank of England Inflation Report published on 08 February 2018 showed that CPI remained at 3.0% per annum in January 2018, having risen to 3.1% per annum in November 2017. At the same time average earnings have started to rise narrowing the gap between earnings and prices. Although the Monetary Policy Committee left rates…

Don’t Forget the Squirrels

Getting tenant engagement right is a complex process. It involves embedding a culture of empathy for the services user and has to be led from the top. But as the focus moves back onto service user needs, boards and executives can’t go far wrong by looking at the humble complaints process as starter for ten.…