McCarthy & Stone seeks ground rent exemption for retirement homes

By Hamish Champ2018-04-13T13:28:00

Government’s leasehold reforms should not hit sector, firm says

Retirement housebuilder McCarthy & Stone said it remained locked in talks with ministers over the government’s plans, outlined last December, to reform rules around ground rent.

Last December Communities secretary Sajid Javid outlined measures to crack down on what he called “feudal practices” within the leasehold system in England, including a ban on leaseholds for almost all new build houses, following a series of scandals which saw rents charged to leaseholders rocket.

Bournemouth-based McCarthy & Stone said there was a “strong case for a very specific exemption” for the retirement housebuilding sector “due to its unique viability model and the need to fund the construction of the shared areas, and we are seeking swift clarification on this matter.

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