What's Ethical about 4Vie?
4Vie will operate on social enterprise principles (reinvesting proceeds back into more homes rather than shareholders pockets) and firmly aspire towards some form of mutual ownership (either for investors or tenants).
Our vision is simple. To deliver a #4thWay through A Viable, Independent and Ethical approach.
For the squeezed middle. and not just for a select and lucky few who qualify for social housing or can get help towards a mortgage through Help to Buy etc.
Average private rents in the UK are already the highest in Europe, and instead of saving deposits for a mortgage, a whole generation now have to fund estate agents fees and deposits - as much as £5k up front payments to ‘secure’ a 6 to 12 month tenancy, and then they might not get their deposit back.
And the vast majority of landlords and estate agents in the PRS want to maximise the profit from rent. Press headlines and reality TV programmes increasingly outlining the £bn’s going into private landlords and estate agents pockets, and examples of poor management or maintenance. It's an expensive, uncertain and high risk option of little choice for many, and doesn't need to be.
We’ll also keep rents and costs as low as we can. We won’t have ‘fat cat’ salaries or bureaucracy - 4Vie is being set up as a vocation rather than a career, using technology to keep costs down but customer service and the number of homes provided up.
And with rents increasing faster than inflation across the country, what's not to like about the actual £'s difference we could make for households outlined below?
Our vision is simple. To deliver a #4thWay through A Viable, Independent and Ethical approach.
- Our financial model proves the #4thWay is viable.
- We’ll be independent from the whims of politics which social housing is subject to
- And we’re aiming to deliver an ethical new approach which delivers genuinely affordable rented homes for all.
For the squeezed middle. and not just for a select and lucky few who qualify for social housing or can get help towards a mortgage through Help to Buy etc.
- 65% at market rents but with the security and surety of long terms tenancies and well maintained and managed homes - enabling people to save for a deposit to buy or simply to have a home of their own where they can put down roots.
- 35% at 35% of average local incomes - aimed firmly at those with lower than average local incomes who are locked out of social housing and can’t afford home ownership.
Average private rents in the UK are already the highest in Europe, and instead of saving deposits for a mortgage, a whole generation now have to fund estate agents fees and deposits - as much as £5k up front payments to ‘secure’ a 6 to 12 month tenancy, and then they might not get their deposit back.
And the vast majority of landlords and estate agents in the PRS want to maximise the profit from rent. Press headlines and reality TV programmes increasingly outlining the £bn’s going into private landlords and estate agents pockets, and examples of poor management or maintenance. It's an expensive, uncertain and high risk option of little choice for many, and doesn't need to be.
We’ll also keep rents and costs as low as we can. We won’t have ‘fat cat’ salaries or bureaucracy - 4Vie is being set up as a vocation rather than a career, using technology to keep costs down but customer service and the number of homes provided up.
And with rents increasing faster than inflation across the country, what's not to like about the actual £'s difference we could make for households outlined below?
