Investors

01 July 2022

Boston Mayflower Finance PLC, a wholly owned subsidiary of Lincolnshire Housing Partnership (a registered Housing Association), announces that the current Executive Director of Customers, Bridget Lloyd retired on 30th June 2022.

The new Executive Director of Customers for Lincolnshire Housing Partnership, Mark Coupland, has been appointed, starting on 1st July 2022.

Mark is the current Corporate Head of Customers at Lincolnshire Housing Partnership and has significant housing and leadership experience having held senior roles at Guinness Partnership, Acis, Northern Counties and Lincolnshire County Council. Mark will bring a strong sense of stability and consistency to the role having been with LHP for 4 years and being very much part of the development of the current vision for the Customer directorate.

For further information, please contact: communications@lincolnshirehp.com

15 June 2022

Boston Mayflower Finance PLC, a wholly owned subsidiary of Lincolnshire Housing Partnership (a registered Housing Association), announces that two new Lincolnshire Housing Partnership board members were appointed on 1st June 2022.

Adrianne Boggins has 30 years’ experience in the social housing sector, specialising in housing management and customer engagement. Adrianne also holds an NED role for Castle & Coasts, a northern housing association.

Rhiannon Davies currently holds a role in housing policy and has worked in various housing teams including homelessness and project teams and has a strong focus on communities.

For further information, please contact: communications@lincolnshirehp.com

23rd November 2021

Credit rating downgrade to A (negative outlook)

A key objective of LHP is to ensure the quality of homes for our tenants is above the Decent Homes Standard and to undertake improvements at the earliest opportunity to support our commitment to tenant satisfaction and the quality of the homes we provide.

We continue to invest in upgrading our homes including the catch up of works delayed because of the impacts of the pandemic lockdown in 2020; our programme to do this is regularly reviewed and refined.

Our future spend also includes meeting the government target for this sector for all properties to be EPC C by 2030. The impact of investment in our stock has been to reduce EBITDA MRI over the next few years before trending upwards once more. We remain focused on ensuring strong viability of our financial plan and profitability metrics, balanced with our obligations to our tenants.

We are committed to carrying out works as efficiently as possible, with a strong focus on cost and value for money, to limit the risk of cost rises and any potential deterioration on financials. The level of uncommitted spend provides flexibility to reduce development spend if necessary. Our conservative view towards financial management is reflected on our core focus on social housing, with less than 5% of revenue from shared ownership sales.

We continue to see high demand for social housing in our areas of operation. Our recent treasury activities over the past year includes new funding and restructure of existing facilities reducing our funding costs going forward.

Our liquidity is supported with undrawn RCF facilities providing strong liquidity headroom.

Half Year Results
The half year results to the end of September 2021 shows LHP achieved Turnover target with £29.5m, Surplus before Tax with £5.6m and its planned programme of investment in component replacements. Rent lost through voids has continued to improve in the first half of the year with average rent lost down from 2.3% in Q4 2020/21 to 1.3% at the half year. Rent arrears have increased from a low base position at the end of Q4 2020/21 and continue to be an area of focus for us.

Board changes
During September Yvonne Lowe stepped down as a Board Director while Nicola Ebdon took over the role of Company Secretary from Zoe Wortley.

Investor presentation
Investors are invited to a virtual presentation on our results and plans on 8 December at 15:00. Please contact investor@lincolnshirehp.com for further details.

3rd November 2021

The Regulator of Social Housing has announced the results of its latest Regulatory Judgement for LHP. Our governance rating remains at G1. This means that we meet all the Regulator’s requirements in relation to governance.

In addition, our financial viability rating remains at V2, which demonstrates that we continue to meet the regulator’s requirements and have the financial capacity to deal with a reasonable range of adverse scenarios.

Speaking about the judgement, Kathryn Price, Executive Director of Finance said: “We’re delighted that the Regulator of Social Housing has maintained our G1 governance rating – it provides a solid foundation as we develop our new Corporate Plan, which will be available in 2022.”

Executive Team appointments

Dated 15 June 2021

Lincolnshire Housing Partnership (LHP) has made some recent appointments to its Executive Team.

Kathryn Price is now confirmed as our Executive Director of Finance, having previously joined LHP last year in an Interim capacity.

Suzanne Wicks is now a permanent member of the Executive Team and takes on the new role of Executive Director of Strategy, Culture and Digital. This encompasses all the work we are undertaking with our Culture Change Programme and Digital Transformation journey and now includes direct line management of our Governance function and lead on ESG (Environmental, Social & Governance sustainability).

The team is completed with Bridget Lloyd and Alex Dixon who have no changes in their roles although they now take responsibility as the Accountable persons for Customers and Building Safety respectively.

For further information, please visit

Boston Mayflower Finance PLC (the Issuer)

£150,000,000 4.321 per cent. Guaranteed Secured Bonds due 2059 (the Bonds)

Dated: 7 June 2021

The Issuer has today reached financial close on the sale of £35,000,000 retained bonds further to the Forward Purchase Agreement announced on 5 June 2020.

On 8 September 2014 the Issuer issued £150,000,000 in principal amount of the Bonds. The Issuer immediately repurchased £75,000,000 in principal amount of the Bonds (the Retained Bonds). On 17 June 2020 the Issuer sold £40,000,000 in principal amount of its Retained Bonds.

Following this financial close all of the Retained Bonds are sold, and no Bonds are held by or on behalf of the Issuer.

For further information, please contact:

28 April 2021

The Regulator of Social Housing has today announced the results of its latest Regulatory Judgement for LHP. Our governance rating has been upgraded to G1. This means that we meet all the Regulator’s requirements in relation to governance.

Our financial viability rating remains at V2, which demonstrates that we continue to meet the regulator’s requirements and have the financial capacity to deal with a reasonable range of adverse scenarios.

The Regulator has highlighted our improved controls and processes, the accuracy of our business plan data, board reporting and regulatory returns when awarding us the top governance rating.

Our approach to stress testing and mitigation strategies was also recognised for demonstrating our commitment to working closely with our Board, ensuring they have oversight and ownership.

To read the full regulatory judgement, please click here.

5 February 2021

Lincolnshire Housing Partnership (LHP) is pleased to announce the appointments of Kate Lindley and Sally Marshall-Mills as co-opted Board Members with effect from 2 February 2021.

Kate has more than 20 years of experience leading customer focused operational services and business transformation within both local authorities and the housing sector and currently works as Client Services Director for Socitm Advisory.

Sally is a Housing and Accountancy professional, who is an experienced public sector leader with significant financial and governance experience.

Details of our current Board Members can be found on this page.

Details of our Executive Team can be found on this page.