Range: Conveyancing - LS Transaction

Efis No.81/2015

October 2015

Range: Conveyancing - LS Transaction

LPE1–Leasehold Property Enquiries

LPE2- Buyers’ Leasehold Information Summary [New Form]

A consultation process has resulted in minor amendments to the LPE1 form which was originally created in conjunction with stakeholders such as the British Property Federation, the Royal Institution of Chartered Surveyors and the Association of Residential Managing Agents to reduce the time conveyancing practitioners spend obtaining information from management agents and companies in relation to transactions involving residential leasehold property.

In particular, this second edition of LPE1 contains amendments which have been made to:-

(i) reflect changes in the Association of British Insurers’ agreements with lenders

(ii) provide better definitions and general wording

(iii) include new questions aimed at reducing the need for additional enquiries e.g. the transfer fees payable on a sale.

In addition, a new buyer’s leasehold information summary form, LPE2, has been created for use with LPE1 following recommendations which the Department for Communities and Local Government proposed after an investigation into residential property services which the Competition and Markets Authority conducted.

LPE2 has been designed to highlight the most important pieces of information for a prospective buyer of leasehold property.

Both forms can be used immediately.

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Technical Section:

Importing Forms

1.Start the OyezForms software (if you are running a networked copy of the software only one user should have the

software open at this point).

2.Insert the CD-ROM into your CD drive.

3.Select Admin and then Import new forms…

4.When the dialogue box appears, click BROWSE

5.Double-click on the CD-ROM drive labelled ‘OyezForms’ and select the EFIS folder which this document refers to. Click OK

6.The forms listed within this EFIS will appear in the dialogue box

7.Click Select All

8.Click Import

9.Click Done.

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