📰 Residents’ Association Newsletter

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Protecting Our Homes, Funds, and Future
Date: 30 August 2025

Dear Residents,

We’re updating you on two urgent issues impacting our community: London & Quadrant Housing Trust’s (L&Q) recent regulatory downgrade and the worsening financial status of TTMC.

1. L&Q Regulation Update

On 27 August 2025, the Regulator of Social Housing published a new Regulatory Judgement on L&Q, assessing its strengths and areas needing improvement:

  • Consumer Standard – Grade C2
    Weaknesses were identified in daily service delivery—particularly around safety, home quality, neighbourhood services, and complaint handling. This is L&Q’s first consumer grade, and it highlights that residents’ concerns need better response mechanisms.
  • Governance – Downgraded to G2
    L&Q remains compliant, but there are shortcomings in board oversight and internal checks. We will push for greater transparency and accountability in how decisions affecting our homes are made.
  • Financial Viability – V2 (Maintained)
    L&Q remains financially stable, able to meet its commitments. However, the Regulator flagged risks linked to ongoing investment and sales programmes. We’ll monitor this closely to ensure our service charges and estate investments are protected.

What this means for shared-ownership leaseholders:

  • Repairs, safety & building standards: Continued pressure on L&Q to tackle issues like damp, mould, repairs, fire safety, and communal care.
  • Governance: Demand for better performance reporting and clearer communication from L&Q.
  • Financial security: Monitor how L&Q manages potential financial risks to safeguard our estate.

2. Urgent: TTMC Solvency & Your Service Charges

We’ve been informed that creditors are preparing a winding-up petition against Twelve Trees Management Company (TTMC). If that petition is presented:

  • TTMC’s bank accounts—including the one holding our service charges—would be immediately frozen.
  • Any available funds would be used to pay creditors (claims exceed ÂŁ300,000, while TTMC’s balance is below ÂŁ50,000).

This creates a serious risk: funds may disappear or essential services could be delayed. We expect a financial mess is being left for the Maltings Close Resident Management Company (MCRMC) once control passes to residents.

To protect your money:

  • Withhold TTMC service charges and place those funds in your own interest-bearing account until the situation is clear.
  • We’re pursuing legal advice to confirm when shared owners can lawfully withhold payment. Updates coming soon.

What You Should Do Now

  • If you pay service charges to L&Q: continue paying, but mark the payment as “under protest.”
  • If you don’t pay TTMC: continue withholding. Forward any credit control letters to us—we’ll manage them.
  • Contact L&Q at fatimalahai@lqgroup.org.uk and ask them to:
    • Confirm in writing that, if TTMC is wound up, your service-charge funds are protected.
    • Confirm they will step in to deliver essential services so residents aren’t affected.
  • Need help drafting your message? Reply here—we’ll send you a template.

What Happens Next

L&Q has committed to several improvements:

  • Installing humidity sensors
  • Tackling damp and mould
  • Improving repair responses
  • Strengthening how complaints are handled

As your Residents’ Association, we will:

  • Request regular updates from L&Q on these improvements.
  • Seek written assurances that residents’ funds and services will be protected if TTMC collapses.
  • Advocate for resident involvement in monitoring performance.
  • Collect evidence of ongoing issues so concerns can’t be ignored.

How You Can Help

  1. Report issues promptly—document repairs, complaints, or service gaps.
  2. Share your experiences so we can build an evidence base.
  3. Stay engaged—attend RA meetings, respond to surveys, support campaigns.
  4. If you pay L&Q charges, send them an email (we can help draft it) and keep a copy.

In Summary

This is a pivotal moment. L&Q has been told to improve its standards—and TTMC’s financial collapse looms. By working together—protecting our money, demanding clarity, and building evidence—we can minimize disruption and improve how our homes are managed.

Your voice matters. Together, we will safeguard our funds, maintain essential services, and build a better future for Maltings Close.

With strength and solidarity,
Maltings Close Residents Association (MCRA)

👉 (Click the link to read the full update online) – https://mailchi.mp/maltingsclose/lq-regulatory-and-ttmc-winding-up-petition

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