McHale & Co. Solicitors Blog

Can a new form speed up leasehold deals?

There is a new standardised procedure that may save valuable time in the conveyancing process. This involves a questionnaire called the Leasehold Property Enquires Form (LPE1) and will hopefully make buying and selling flats easier. 

The new questionnaire aims to capture information held by landlords, management companies and managing agents in one place.  The form was developed by the Law Society, property services group with help from other interested parties. The use of the LPE1 will not be compulsory, but will hopefully be widely adopted.

Jonathan Smithers, Law Society’s Deputy Vice President, said: “Having a standardised format will be advantageous to sellers, buyers, solicitors and conveyancers dealing with leasehold property. 

It will not only bring clarity to the part of the procedure that deals with obtaining necessary leasehold information but may also clarify some issues relating to time and cost. It will also mean that everyone becomes familiar with one form, inevitably making the process more cohesive.

The Law Society will make every effort to secure the support of key stakeholders, including the Government, to make this scheme a success.”

Hopefully this form will help with the speed of some transactions and if that is the case it is a good thing for our clients.  We will keep you updated with progress as the procedure rolls out.

Categories: Conveyancing
Tags: Leasehold

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