HBOS and Rothschild have begun the sale of a second UK housebuilder, after the battle for control of retirement home group McCarthy & Stone appears to have reached its conclusion with a £1.1bn (€1.6bn) sale.

Rothschild has won a mandate to "solicit offers from potential trade and private equity buyers" of Linden Holdings, according to a statement from the UK housebuilder yesterday. The investment bank advised HBOS and a consortium including the billionaire Reuben brothers and Sir Tom Hunter on their recommended bid for McCarthy & Stone.