Homes for Lambeth is a group of companies wholly-owned and controlled by Lambeth Council. We were set up by the council because this is the best way for the council to deliver on their commitment to build better homes for current residents and more genuinely affordable homes for those waiting on the council’s housing lists.
Our structure allows us to build private homes which will subsidise the more and better homes we need and to provide excellent service to our residents. Our governance ensures that Homes for Lambeth is rigorously accountable to the public through the council’s democratic structures. Our activities and major decisions are overseen by Lambeth Council’s Ownership & Stewardship Panel and the Council’s Cabinet.
HFL Group is the holding company within the Homes for Lambeth group of companies. It is a private company limited by shares, of which 100% are held by the council.
HFL Build is a development company responsible for building new homes. It is a private company limited by shares, of which 100% are held by Homes for Lambeth Group. Its surplus will be cycled back into the group of companies to help pay for more affordable homes.
HFL Homes is a Registered Provider of social housing regulated by the Homes and Communities Agency. It will acquire affordable housing from Homes for Lambeth Build and also S106 properties, which are secured from developers by the council through planning obligations. It is a private company limited by shares, of which 100% are held by HFL Group and, as the parent, Homes for Lambeth Group will provide the necessary guarantees and assurances that the company will be able to meet its financial regulatory requirements, so as to ensure the protection of affordable housing assets.
HFL Living is intended to be a Private Rented Sector (‘PRS’) housing company. It is currently dormant, but it has been sent up to allow HFL Group to rent homes on the private market if required. It would acquire new housing from HFL Build and any surplus will be cycled back into the group of companies to help subsidise more affordable homes. It is a private company limited by shares, of which 100% are held by Homes for Lambeth Group.
Homes for Lambeth Boards
The Homes for Lambeth group of companies, HFL Build, HFL Homes and HFL Living are each overseen by dedicated boards, who in turn report to the HFL Group board, chaired by Group Chair Caroline Pilay. These boards make important decisions about what Homes for Lambeth do and use their extensive experience in the housebuilding industry to support and guide our work.
HFL Homes Limited – 10847988
Code of Governance
The Board has adopted the NHF Code of Governance 2015. This Code applied to the Board’s functions and activities in the year ending 31 March 2021. Having received the outcome of the Audit & Risk Committee’s review of compliance with the Code, the Board assessed compliance with the Code of Governance 2015 at its meeting held on 29 July 2021. The Board is satisfied that it has received sufficient assurance that HFL Homes Limited is compliant with the Code.
The Board has adopted HFL’s Code of Conduct and confirms that it has received assurance that HFL Homes was compliant with the Code in 2020-21.
At its meeting held on 25 March 2021, the HFL Homes Board approved adoption of the NHF Code of Governance 2020, to apply with effect from 1 April 2021. HFL Homes Board will review compliance against this Code and will provide a statement on compliance against the 2020 Code in the 2021-22 statutory accounts.
The Board has also adopted the NHF Code of Conduct 2012, to apply with from effect from May 2021. The Board will provide a statement on compliance against this Code in the 2021-22 statutory accounts.
RSH Regulation (HFL Homes)
HFL Homes operates in accordance with all relevant law and with the Regulatory Framework laid down by the Regulator of Social Housing. Compliance with the Regulatory Framework is subject to self-assessment. Having received an appropriate assurance report at its meeting on 29 July 2021, recommended to the Board from the Audit & Risk Committee, the Board certifies that HFL Homes is compliant with the Governance and Financial Viability Standard and with the other Regulatory Standards.
The relationship between Homes for Lambeth and Lambeth Council is governed by a Shareholders’ Agreement that is agreed between both parties and is updated from time to time. agreed by the council's cabinet.