This is the third Annual review of housing association private finance to be published by the Housing Corporation. The data used for this review has been compiled from Electronic Annual Accounts (Form FVA) submitted by housing associations registered with the Housing Corporation and with more than 1,000 homes owned or in management.

As in previous years, the analysis of data is dependent upon the accuracy of the actual data provided by housing associations. We do not believe that there are any inaccuracies in the data that are material enough to distort the view provided in this review. Readers should note that as significant amounts of existing facilities are re-financed each year, and because arrangements on existing facilities may be revised, it is not always possible to reconcile movements in balances year on year with the activity that has taken place during the year.