Leasehold Property Enquiries forms
We have revised the LPE1 form in conjunction with the trade association across the legal and leasehold sectors including the British Property Federation and the Royal Institution of Chartered Surveyors.
The LPE1 form can be used for capturing the information about a property held by landlords, management companies and managing agents.
This can include, for example, information about ground rent, insurance and service charges.
The second edition of the LPE1 form was released on 1 October 2015 alongside the Buyers Leasehold Information Summary (LPE2).
The amendments have been made to:
- reflect changes in the Association of British Insurer agreements with lenders
- provide better definitions and general wording, and
- include new questions aimed to reduce the need for additional enquiries, for example with regard to any transfer fees payable on sale.
The Buyers Leasehold Information Summary (LPE2) was also introduced further to recommendations from the Competitions and Market’s Authority Leasehold Study to improve the understanding of new lessees as to their financial obligations under the lease.
Using the LPE1 and LPE2 forms makes it easier for solicitors to advise clients because they will receive information in a standardised and consistent format.
It is not mandatory to use LPE1 or LPE2. You are still able to use your own forms.
LPE1 and LPE2 forms are available in the usual package of forms from the following suppliers at no extra cost: