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Leasehold reform hits housebuilder shares

January 3, 2018 by Editor

On December 21, when Sajid Javid announced his plans to reform leasehold, housebuilders shares started sliding.

The biggest fall was in retirement builders McCarthy & Stone which dropped 10% and has stayed there since.

McCarthy & Stone specialise in the retirement sector, where sadly some of the worst exploitation occurs, with not only inflated ground rents, and huge service charges but even ‘exit fees’ if a resident wants to leave!

It’s telling that those who invest in such companies knew full well what a dodgy business model it was, and that fair play for residents means reduced profits.

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