Plans to ban ground rents threaten to sharply reduce profits at Britain’s biggest builder of retirement homes.
McCarthy & Stone complained yesterday that it had been “caught in the crossfire” of government attempts to crack down on companies cashing in at their tenants’ expense.
In December, the government said that it would ban the sale of any new house on a leasehold basis and would new ground rents on long leases, including for new flats.
McCarthy & Stone said yesterday that the plans would reduce the number of houses it could build in future.
