A LEADING housing association is to withdraw from property factoring as part of a decision to focus on its delivery of vital social housing throughout Scotland.
Hanover Scotland manages more than 4,500 homes across more than 24 council areas, predominantly for older people – and is one of the country’s largest registered social landlords (RSL).
Alongside its delivery of housing and related services, it provides factoring services to 34 privately-owned developments. It has now written to almost 1200 homes affected to provide significant notice to enable them to appoint new factors by September 27, 2024.
Angela Currie, Chief Executive with Hanover Scotland, said: “We’ve given serious consideration to the decision, as it is crucially important at this time that we focus all attention on our core business of providing top quality social housing.
“We recognise that this places a burden on the homeowners, renters and landlords of those developments. We are doing our utmost to communicate with them, to allow maximum notice to appoint a new factor.”
The Edinburgh headquartered RSL has written to all its factoring customers and is holding a series of in-person and virtual consultation meetings over the coming weeks. It is also writing to local politicians to make them aware of the changes.
Hanover will also work to support members of its factoring team throughout through this transition and where possible will look to redeploy factoring employees within the wider organisation.
Two developments in Edinburgh and Dunblane, termed as “Trust Tenure” will continue to receive factoring until further notice.
Angela added: “While we aren’t permitted to recommend new factoring providers, we hope we can make the process as smooth and manageable as possible.”
The move is part of Hanover’s 2022-2027 Corporate Strategy and follows a multi-year review of non-social landlord activities.
It will refocus all attention on its highly successful core housing business, with plans to continue improving on its 89.9% of homes meeting the Scottish Housing Quality Standard, a figure already well above the 79% Scottish average.
It traces its roots back to 1963, when it was Hanover Housing Association. It was the first national organisation of its kind and built Scotland’s first sheltered accommodation developments by a housing association, at Drymen near Stirling and New Scone in Perth and Kinross.
Following various changes in direction, Hanover Scotland was formally founded in 1979 and is now one of Scotland’s largest RSLs providing housing to mostly older customers, from the Highlands to the Scottish Borders.
For more information on Hanover Scotland, please visit: https://www.hanover.scot/
