OAP homes risk

Retirement home giant McCarthy & Stone has warned a Government shake-up could lead to fewer new developments being built.

Ministers are proposing to ban leaseholds on nearly all new houses and set ground rents at zero.

McCarthy, which saw half-year profits halve to £11.5million, said the £30m a year it generates from ground rents was ploughed into new sites.

Boss Clive Fenton said it risked being less able to buy new land for its homes, just as demand from an ageing population soars.